KB Kookmin Bank, South Korea’s largest lender by assets, will launch a corporate cross-border payment service in August built on Kinexys, JPMorgan’s permissioned blockchain platform.
The move makes KB Kookmin the first South Korean financial institution to settle commercial dollar payments on the network.
The service allows you to send money to 10 different countries, like the US, Singapore, and South Africa. You can also send money within South Korea. Some other countries on the list are Saudi Arabia, India, and the United Arab Emirates. They also cover Thailand, Qatar, and Bahrain. All of these transfers are done in US dollars.
KB Financial Group carries $552.76 billion in total assets, making it South Korea’s largest financial institution by that measure and the 28th-largest bank in the Asia-Pacific region.
The development marks one of the platform’s most significant Northeast Asian commercial deployments to date, and it follows a string of regional banks adopting JPMorgan’s blockchain rails over the past year.
KB Kookmin is not limiting its blockchain exposure to Kinexys alone, as the bank is also participating in a government-led South Korean deposit-token payments initiative announced on July 23, 2026, part of the Bank of Korea’s broader Project Hangang push toward a two-tier digital won.
KB Kookmin Bank to launch JPMorgan Kinexys for cross-border USD payments across 10 countries next month pic.twitter.com/dRHoIrJSyQ
— MSB Intel (@MSBIntel) July 27, 2026
It has separately been involved in blockchain-based digital bond issuance and stablecoin pilots this year, positioning it as one of the more active traditional lenders experimenting with tokenized finance in the region.
Blockchain Payments Reach South Korea’s Largest Bank
KB Kookmin Bank will launch a blockchain based cross border corporate payment service next month using JPMorgan’s Kinexys, according to Yonhap News Agency.
The bank will become the first Korean financial institution to use… pic.twitter.com/1BVIAv4n2I
— BSCN (@BSCNews) July 27, 2026
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