South Korea's KB Kookmin Bank to Launch Cross-Border Payment Service Based on JPMorgan's Kinexys

Source: PANews1 day ago

YouToCoin July 26 news, according to Cointelegraph, South Korea's largest bank KB Kookmin Bank plans to launch a cross-border payment service based on JPMorgan's blockchain platform Kinexys in August. The service is aimed at import and export companies, initially supporting cross-border payments and foreign exchange settlement in US dollars, covering 10 countries including the United States, Singapore, Saudi Arabia, and the United Arab Emirates. Kinexys, formerly known as Onyx, is positioned as JPMorgan's payment, tokenization, and digital asset infrastructure for institutions. The report cited Yonhap News Agency saying that the service will integrate with the existing SWIFT network to achieve near-instant cross-border payments and foreign exchange settlement.

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