KB Kookmin Bank to Roll Out Blockchain-Powered Cross-Border Payments with Kinexys

KB Kookmin Bank is set to launch a blockchain-based service for cross-border payments tailored to import and export companies by August 2026. The initial rollout will focus on U.S. dollar transactions across ten countries.

Integrating Blockchain with Traditional Banking Networks

The new payment service will utilize Kinexys, a blockchain platform developed by J.P. Morgan, to enable near-real-time settlement for corporate transfers. Unlike replacing the existing SWIFT system, KB Kookmin's solution will link Kinexys with SWIFT payment rails, allowing foreign exchange settlements and transfers beyond standard banking hours.

Customers will be able to access these services through KB Kookmin’s local branches in South Korea and their Singapore office. The supported markets include South Korea, the United States, Singapore, Saudi Arabia, India, Thailand, Qatar, the United Arab Emirates, Bahrain, and South Africa. Specific details about fees, transaction limits, and the exact launch date in August have yet to be disclosed.

Kinexys Platform’s Growing Influence in Corporate Payments

J.P. Morgan describes Kinexys as a bank-led blockchain network offering payments, asset tokenization, and near-instant settlement services operating 24/7. This platform removes the constraints of traditional banking cut-off times, enhancing efficiency while maintaining compliance and existing foreign exchange processes.

Kinexys has seen adoption by other financial players, such as Qatar National Bank, which began using it for U.S. dollar payments in 2025, enabling corporate transfers outside regular hours and cutting settlement times to mere minutes. Recent expansions include support for eight currencies including Australian and Hong Kong dollars, Japanese yen, Chinese yuan, and Singapore dollars.

The KB Kookmin rollout marks the first South Korean bank to implement Kinexys for corporate import-export payments, signaling growing blockchain adoption for cross-border business transactions.

This material is for informational purposes and does not constitute financial advice.