KB Kookmin Bank, the largest bank in South Korea, plans to launch a blockchain-based cross-border corporate payments service using Kinexys by J.P.
Morgan, according to local media reports.
Yonhap News Agency reported Sunday that the bank is set to roll out the service next month under a partnership with Kinexys.
It will become the first Korean financial institution to use Kinexys' blockchain payment network for corporate import and export settlements, per the report.
The service will be available through the bank's domestic branches in South Korea and its Singapore branch.
