KB Kookmin Bank said it will introduce a blockchain-based payment service for importers and exporters next month, broadening its cross-border transaction capabilities through JPMorgan Chase & Co.’s Kinexys blockchain payments infrastructure.

The planned launch follows a business partnership between KB Kookmin Bank and JPMorgan aimed at strengthening blockchain-powered remittance services. The initiative marks the first time a South Korean financial institution has integrated Kinexys by J.P. Morgan into payment services developed specifically for import and export companies.

With the rollout, KB Kookmin Bank will become the first South Korean bank to use JPMorgan’s Kinexys blockchain payments network for trade-related cross-border payments. The bank is seeking to improve the speed and efficiency of international transactions for companies involved in importing and exporting, a use case where payment timing can affect supplier relationships, shipment schedules, and working-capital planning.

Service marks first South Korean bank use of Kinexys for trade payments

The new service is designed to streamline international payment processes by applying blockchain technology to institutional financial transactions. The collaboration also reflects the increasing interest among banks in distributed ledger technology as a way to improve settlement efficiency, reduce processing delays, and increase transparency in cross-border payments.

Kinexys is JPMorgan’s blockchain-focused business unit and provides blockchain-based payment infrastructure for institutional clients globally. The platform is connected to the Society for Worldwide Interbank Financial Telecommunication, or SWIFT, allowing it to support international remittances and foreign exchange settlements among participating financial institutions.

According to KB Kookmin Bank, the blockchain-enabled network can process international payments and foreign exchange transactions in near real time while operating continuously throughout the day. In contrast with traditional banking systems, which are frequently limited by business hours, weekends, and regional holidays, the infrastructure enables transactions to be handled automatically on a 24-hour, seven-day-a-week basis.

The use of blockchain infrastructure is expected to give businesses engaged in international trade more flexibility in managing overseas payments. Shorter settlement times may also help importers and exporters manage liquidity more effectively when they depend on timely fund transfers for supply chain operations and commercial transactions.

KB Kookmin Bank initially plans to offer the service through its domestic branch network in South Korea and through its Singapore branch. In the first phase of the rollout, the platform will support remittances denominated in U.S. dollars, with the potential for additional currency support as the service develops.

The blockchain-powered payment platform will begin by processing U.S. dollar remittances through KB Kookmin Bank’s South Korean and Singapore branches, while providing continuous operation and near real-time settlement capabilities. The initial focus on U.S. dollar remittances gives the bank a defined starting point for the service while leaving currency expansion as a key feature to monitor as adoption develops.

The service will be available across 10 countries, giving businesses access to blockchain-enabled cross-border payment services in South Korea, the United States, Singapore, Saudi Arabia, India, Thailand, Qatar, the United Arab Emirates, Bahrain, and South Africa. The geographic scope is intended to support companies conducting international trade across major commercial corridors in Asia, the Middle East, Africa, and North America.

The rollout highlights a broader trend among global financial institutions to incorporate blockchain technology into traditional banking infrastructure, particularly in cross-border payments, which have historically involved multiple intermediaries and longer settlement periods. By integrating blockchain with established international payment networks such as SWIFT, banks are working to modernize international fund transfers while maintaining compatibility with existing financial systems.

By combining JPMorgan’s Kinexys blockchain infrastructure with the global SWIFT network, the service is intended to provide faster, automated, and more efficient cross-border payments for businesses conducting international trade across the 10 markets.