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Kookmin Bank will launch a cross-border corporate payment service based on the JPMorgan Chase blockchain payment network in August.
Svmuu News: KB Kookmin Bank announced that it will launch a cross-border corporate payment service in August based on Kinexys, the blockchain payment network operated byJPMorgan Chase. This makes it the first financial institution in South Korea to apply this network to settlements for import and export companies.It is reported that the service will initially support U.S. dollar (USD) remittances, covering 10 countries including the United States, Saudi Arabia, Qatar, and the United Arab Emirates, and is expected to reduce payment processing times across time zones to regions such as the United States and the Middle East. (Dailyenews)
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