South Korea's KB Kookmin Bank to Launch Blockchain Cross-Border Payment Service
En resumen
KB Kookmin Bank to introduce blockchain-based cross-border payment service via JPMorgan's Kinexys network in August, initially supporting USD transfers across 10 countries.
Resumen generado por IA
Por qué importa
KB Financial Group is South Korea's largest lender by assets.
South Korea’s KB Kookmin Bank will launch a blockchain-based cross-border payment service for import and export businesses in August using JPMorgan’s Kinexys network, according to multiple local media reports. Kinexys, formerly known as Onyx, is JPMorgan’s blockchain platform for institutional payments, tokenization and digital assets. The service will initially support US dollar transfers across 10 countries, including the US, Singapore, Saudi Arabia and the United Arab Emirates. According to Yonhap, it will integrate with the existing SWIFT payment network for near-instant cross-border payments and foreign exchange settlement. In an April research report, S&P Global ranked KB Financial Group, the parent of KB Kookmin Bank, as South Korea’s largest lender by assets. The group is also listed as the 28th-largest bank in the Asia-Pacific region, with $552.76 billion in total assets.
Qué observar
Perspectiva de IA — posibilidades, no hechos
Increased adoption of blockchain in South Korean banking sector
Probable · En meses
Preguntas abiertas
- Expansion plans beyond initial 10 countries
