KB Kookmin Bank to Launch Blockchain-Based Cross-Border Payment Service

South Korea's largest bank, KB Kookmin, is set to launch a blockchain-based cross-border payment service for corporate clients next month in partnership with Kinexys by J.P. Morgan.

The new service will prioritize U.S. dollar transfers across 10 countries at launch and operate through South Korean domestic branches and the bank's Singapore branch.

Kinexys provides programmable payments, tokenization, and near-real-time settlement, which aligns with KB Kookmin's goal of faster and more efficient payment processing.

The plan also fits into the bank's broader movement into blockchain-based payments, including a hybrid stablecoin project announced in March with Avalanche.