KB Kookmin Bank will launch an import/export corporate payment service leveraging Kinexys by J.P. Morgan’s Blockchain Deposit Account (BDA) network. KB Kookmin Bank will be the first among Korean financial institutions to use this network for payment services for import/export companies.

The service will be available at KB Kookmin Bank’s domestic branches in Korea as well as its Singapore branch. Remittances will be supported to a total of 10 countries: the United States, Singapore, Saudi Arabia, India, Thailand, Qatar, the United Arab Emirates, Bahrain, South Africa, and Korea. The bank plans to initially support U.S. dollar (USD) remittance transactions.

Once the service is introduced, Korean importers and exporters will be able to use Kinexys’ BDA network to settle USD payments faster and more securely with major overseas financial institutions on the Kinexys network including global companies. In particular, for transactions with countries such as the United States and those in the Middle East – where time zones and business days differ - settlement times are expected to be significantly reduced, enabling Korean exporters to secure trade proceeds more quickly and improve the efficiency of cash management.

A KB Kookmin Bank official said, “This service is meaningful in that it connects global digital payments infrastructure with corporate banking services in Korea. We will continue to expand innovative financial services in response to the evolving global payments environment.”

Chris Park, Head of Payments for Korea, said, “As the first financial institution in Korea to leverage Kinexys’ Blockchain Deposit Account network for corporate payments, KB Kookmin Bank is paving the way for the next generation of payments. We are proud to support KB Kookmin Bank in bringing the benefits of blockchain-based payments to Korean importers and exporters and to help advance Korea’s cross-border payments landscape.”

KB Kookmin Bank is one of Korea's leading financial institutions, recognized for its strong brand franchise² in Korea, broad customer reach and extensive nationwide network. With a well-established presence across both retail and corporate banking, the bank provides a comprehensive range of financial solutions to clients throughout Korea while continuing to strengthen its capabilities in support of their evolving needs.

Kinexys by J.P. Morgan is the firm’s industry-leading blockchain business unit and part of J.P. Morgan Payments. The platform has processed over $4 trillion in cumulative transactions, with an average daily transaction volume of $7 billion.³ The network enables 24/7⁴ near real-time cross-border settlements as well as programmable payment functionality, which can enhance the speed and efficiency of cross-border payments.

Learn more about this news in The Block, Chosun Biz, and Ledger Insights. Check out our Blockchain 101 glossary here and other milestones from Kinexys:

• How blockchain and digital assets have moved from pilots to production-grade commercial solutions
• Future of Finance recognizes Kinexys by J.P. Morgan with two awards for blockchain leadership
• Kinexys by J.P. Morgan earns three industry recognitions
• Kinexys by J.P. Morgan expands Blockchain Deposit Accounts with five new Asia-Pacific currencies
• J.P. Morgan Payments wins two Celent 2026 Model Bank Awards