KB Kookmin Bank to Launch Blockchain-Based Cross-Border Payments

South Korea's largest bank, KB Kookmin Bank, will launch a blockchain-based cross-border payment service for import and export companies in August 2026. The service links blockchain settlement with SWIFT while supporting corporate transfers beyond normal banking hours.

The new service will initially support U.S. dollar payments across ten countries, including South Korea, the United States, Singapore, Saudi Arabia, India, Thailand, Qatar, the United Arab Emirates, Bahrain, and South Africa. Customers will access the service through KB Kookmin Bank's domestic branches and its Singapore branch.

KB Kookmin becomes the first Korean bank to use Kinexys by J.P. Morgan for payment services aimed at import and export companies. The agreement focuses on faster cross-border remittances for businesses managing overseas trade, supplier payments, and foreign exchange settlement needs.