KB Kookmin Bank plans to introduce blockchain-based cross-border payment services for import and export companies in August 2026, using J.P. Morgan’s Kinexys network to process U.S. dollar transfers across 10 supported countries.

The South Korean lender’s service will connect Kinexys with existing SWIFT infrastructure. Corporate customers will be able to access the service through KB Kookmin’s domestic branches in South Korea and its Singapore branch.

JUST IN from Korea. KB Kookmin Bank launches JP Morgan Kinexys payments. KB Kookmin Bank rolls out blockchain cross-border trade payments on JP Morgan Kinexys next month, a Korean… What it means for global teams: pic.twitter.com/AnQVVniUAm — CoinEasy | Web3 Simplified (@Coiniseasy) July 26, 2026

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KB Kookmin’s Kinexys Payment Plan

KB Kookmin announced the project on July 26 after signing an agreement with J.P. Morgan. The arrangement is aimed at faster remittances and foreign exchange services for companies engaged in international trade.

According to a report, KB Kookmin will become the first South Korean financial institution to use the Kinexys platform. The service is designed for blockchain-based cross-border payments by import and export companies.

The initial network will cover South Korea, the United States, Singapore, Saudi Arabia, and India. Thailand, Qatar, the United Arab Emirates, Bahrain, and South Africa are also included in the first group of supported countries.

U.S. dollar payments will be the first phase of implementation. The report did not specify the exact August launch date, service fees, transaction limits, or customer eligibility requirements.

J.P. Morgan describes Kinexys as a bank-led blockchain platform for programmable payments, asset tokenization, and near-real-time settlement. The company renamed its Onyx business as Kinexys in November 2024.

Kinexys is a private, permissioned network for approved institutions. KB Kookmin’s planned service does not involve public cryptocurrency tokens. Instead, participating organizations will use J.P. Morgan’s blockchain-based banking infrastructure.

The service will operate with SWIFT rather than replace it. That structure allows KB Kookmin to add blockchain cross-border payment capabilities while retaining the international payment network already used by participating banks. For corporate trade customers, that distinction matters because cross-border payments often depend on bank connectivity, compliance checks, currency handling, and settlement windows rather than only on the messaging layer.

J.P. Morgan expanded its blockchain deposit accounts in June 2026. A single account can hold eight currencies: USD, HKD, SGD, RMB, JPY, AUD, EUR, and GBP.

Those accounts support payments at any time, programmable treasury functions, and on-chain foreign exchange. J.P. Morgan says the structure allows institutions to move liquidity without relying on local banking cut-off times.

Banks Increase Blockchain Use in Payments and Capital Markets

Qatar National Bank implemented Kinexys Digital Payments for U.S. dollar clearing in October 2025. The bank transferred all outbound dollar clearing and settlement without deductions to the network. QNB cited faster clearing and more predictable cash flows.

KB Kookmin Bank has also used blockchain technology in capital markets. In June 2026, the bank issued a two-year, $100 million U.S. dollar digital bond using HSBC’s Orion platform.

That issuance was the first blockchain-based U.S. dollar digital bond issued by a South Korean bank. HSBC served as the sole arranger, while blockchain technology supported issuance, registration, trading, and settlement.

KB Financial Group was the largest bank in South Korea by assets, according to the S&P Global Market Intelligence 2026 Asia-Pacific review. The group held approximately $552.76 billion in assets and ranked 28th in the region.