South Korea's Banking Giant Taps JPMorgan's Kinexys for Global USD Payments
KB Kookmin Bank, South Korea’s largest lender, is set to deploy JPMorgan’s Kinexys blockchain network to facilitate cross-border USD payments for global trade. This strategic move aims to streamline import and export operations, leveraging institutional-grade blockchain technology to enhance liquidity and speed.
Scheduled for an August launch, the service will initially span 10 countries, including the US, Singapore, and the UAE. By utilizing Kinexys—the rebranded Onyx platform—the bank is integrating advanced tokenization and digital asset capabilities into the core of international commerce, setting a new standard for traditional finance.
South Korea’s largest lender, 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, the service is designed to support US dollar transfers across 10 different countries.
Kinexys, formerly known as Onyx, serves as JPMorgan’s premier blockchain platform for institutional payments, tokenization, and digital assets. The rollout will initially facilitate USD transfers in key markets, including the United States, Singapore, Saudi Arabia, and the United Arab Emirates.
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