Digital Asset reported that KB Kookmin Bank is launching a payment service for export and import companies using J.P. Morgan's blockchain-based payment network. According to J.P. Morgan on the 2nd (local time), Kookmin Bank will launch an export-import company payment service utilizing the Blockchain Deposit Account (BDA) network of 'Kinexys by J.P. Morgan'. J.P. Morgan explained that Kookmin Bank is the first domestic financial institution to utilize the BDA network for export-import company payment services. The service will be provided at Kookmin Bank's domestic branches and its Singapore branch, with remittance destinations including 10 countries: Korea, the United States, Singapore, Saudi Arabia, India, Thailand, Qatar, the United Arab Emirates (UAE), Bahrain, and South Africa. Initially, it plans to support US Dollar (USD) remittances.
