KB Kookmin Bank, South Korea's largest bank by assets, will launch a blockchain-based cross-border payment service in August using JPMorgan's Onyx (now Kinexys) blockchain platform. The service targets import and export businesses, initially supporting U.S. dollar transfers across 10 countries, including the U.S., Singapore, Saudi Arabia, and the UAE. It will integrate with the existing SWIFT network to enable near-instant payments and foreign exchange settlement.

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South Korea’s largest bank to launch payment service on JPMorgan’s Kinexys

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