KB Kookmin Bank to Launch 24/7 Blockchain Payments for International Trade

Highlights:

• KB Kookmin Bank will launch JPMorgan’s Kinexys-powered cross-border payment service for trade companies in August.
• The first phase will support U.S. dollar corporate transfers across South Korea, Singapore, and eight other countries.
• Kinexys enables near-real-time, 24/7 payments and automated settlement while connecting with established systems such as SWIFT.

South Korea’s KB Kookmin Bank will launch a blockchain-based cross-border payment service for import and export companies in August. The service will use the Kinexys payment network developed by JPMorgan and initially support corporate transfers in U.S. dollars.

KB Kookmin Bank announced the plan on July 26, according to Yonhap News Agency. The project follows an agreement between the two banks to develop blockchain-powered remittance services and improve international payments. KB Kookmin will become the first South Korean financial institution to use the Kinexys network for payment services aimed at trading companies.

JUST IN: South Korea’s largest bank to use JPMorgan’s blockchain for crypto-style payments.

$400B KB Financial Group arm, Kookmin Bank, will use Kinexys to process cross-border business payments in August, allowing near-24/7 USD transfers.

Kinexys has already processed over $4… pic.twitter.com/q8Fp4zxtMR

— Coin Bureau (@coinbureau) July 27, 2026

KB Kookmin Bank to Support U.S. Dollar Transfers Across 10 Countries

Companies will be able to access the new service through KB Kookmin Bank branches in South Korea and its Singapore branch. The first phase will support transfers involving ten countries: South Korea, the United States, Singapore, Saudi Arabia, India, Thailand, Qatar, the United Arab Emirates, Bahrain and South Africa.

The bank plans to begin with U.S. dollar payments. It has not yet provided details about fees, transaction limits or whether it will add other currencies later.

The service is designed for companies that send or receive money as part of international trade. These payments may include supplier invoices, import costs and other business transactions. By connecting its banking services with Kinexys, KB Kookmin aims to provide a more modern channel for moving corporate funds across borders.

Kinexys Supports Round-the-Clock Settlement

Kinexys is JPMorgan’s blockchain business and provides payment infrastructure for institutional clients. Its network supports payments and foreign exchange settlement while also connecting with established systems such as SWIFT.

According to Yonhap, the platform can process international payments and fund transfers nearly in real time, 24 hours a day throughout the year. It can also automate parts of the payment process. Automation allows a transaction to follow preset instructions without requiring staff to complete every step manually.

JPMorgan describes Kinexys as a bank-led blockchain platform built for programmable payments and near-real-time settlement. The company has also expanded its blockchain deposit account network across the Asia-Pacific region. In June 2026, it added accounts denominated in Australian dollars, Hong Kong dollars, Japanese yen, Chinese renminbi and Singapore dollars.

Blockchain Use Focuses on Banking Infrastructure

The KB Kookmin service is not described as a cryptocurrency trading product. Instead, it uses blockchain as the underlying infrastructure for moving and settling bank payments between businesses. Customers will deal with regulated financial institutions rather than sending funds through public crypto wallets.

The launch adds South Korea to a growing group of markets where financial institutions are using blockchain for corporate payments. Traditional international transfers can face operating-hour limits and separate settlement steps. Bank-led blockchain networks seek to reduce those delays while keeping payment activity within established banking and compliance systems.

KB Kookmin has not announced an exact August launch date. More information about access, pricing, and transaction requirements may become available when the service officially begins.