KB Kookmin Bank Launches Enterprise Payment Service Based on JPMorgan Blockchain
Process import and export payments faster and more securely with KB Kookmin Bank's blockchain payment service Improve overseas payment efficiency and enhance fund management by applying the JPMorgan Kinexys network
KB Kookmin Bank announced on the 26th that it will launch next month a payment service for import and export companies using JPMorgan Kinexys's blockchain payment network.
JPMorgan Kinexys is the blockchain business division of investment bank JPMorgan and is regarded as one of the institutiononly payment infrastructures. This is the first time a domestic financial company has applied this infrastructure to payments for import and export companies.
With this service, domestic import and export companies are expected to be able to process U.S. dollar payments to overseas financial institutions and companies more quickly and securely. In particular, payment times are expected to be reduced in transactions with regions that have large time differences or different business days, such as the United States and the Middle East, improving the efficiency of fund management.