KB Kookmin Bank, BNY Partner on Digital Asset Payments
KB Kookmin Bank is partnering with BNY to develop cross-border digital asset payment and remittance services, as the Korean lender seeks to strengthen its global digital finance capabilities.KB Kookmin Bank said Monday that it signed a strategic memorandum of understanding with BNY on Sept. 28, U.S.
KB Kookmin Bank and BNY Mellon have formed a strategic partnership to develop digital asset payments and remittance services. The Korean bank signed a memorandum of understanding with BNY on September 28 at SIBOS 2026 in Miami, Florida, as it seeks to bolster its global digital finance capabilities. The agreement was signed by Baek Ki-hyun, head of KB Kookmin Bank's foreign exchange business division, and Jennifer Barker, BNY's global head of payments and trade finance.
The partnership will initially focus on enhancing overseas remittance services for foreign customers, including international students, by leveraging BNY's global payments network and "Pay to Wallet" capabilities. Both institutions aim to explore broader cooperation by combining their networks and expertise in foreign exchange and payments to improve cross-border transactions.
This partnership comes as financial institutions worldwide invest in digital technologies for payment and settlement infrastructure. For KB Kookmin Bank, the collaboration offers an opportunity to integrate its foreign exchange and payment capabilities with BNY's extensive global network, potentially expanding services for customers who frequently transfer funds across borders.
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