BNY Partners with KB Kookmin Bank for Cross-Border Digital Payments

KB Kookmin Bank has partnered with BNY to expand its international payment services. The agreement, signed at Sibos 2026 in Miami Beach, covers cross-border digital asset payments and remittances globally.

The partnership names KB Kookmin Bank as one of the initial Asia-Pacific users of BNY's Pay-to-Wallet capability. This service allows banks to send cross-border payments directly to participating retail digital wallets using existing SWIFT messages and correspondent banking infrastructure.

Kookmin Bank plans to combine its foreign-exchange capabilities with BNY's payment network and Pay-to-Wallet infrastructure for overseas remittances, including services for foreign residents and international students. Raphael Baik, head of Kookmin Bank's foreign exchange business division, stated that customers increasingly want payment options matching the way recipients prefer to receive money.