JPMorgan's Kinexys Blockchain Goes Live at South Korea's Largest Bank

South Korea's largest bank has partnered with JPMorgan to implement its Kinexys blockchain platform for near-instant cross-border U.S. dollar payments.

The move is expected to significantly reduce the time required to settle international transactions, from hours or days to near real-time.

Kinexys, previously known as Onyx, operates as a permissioned blockchain, allowing only approved financial institutions to participate in the network.

By implementing this technology, South Korea's largest bank aims to modernize its cross-border payment process and improve operational efficiency.