South Korea’s largest bank, KB Kookmin Bank, will launch a cross-border USD payment service in August 2026 using JPMorgan’s Kinexys blockchain. The service will enable import and export businesses to transfer funds to ten countries including South Korea, the United States, Singapore, Saudi Arabia, India, Thailand, Qatar, the UAE, Bahrain, and South Africa. KB Kookmin becomes the first South Korean financial institution to use Kinexys for commercial payments. The Kinexys platform has processed over $4 trillion in cumulative transaction volume, with average daily transactions exceeding $7 billion, without using public cryptocurrency tokens.
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