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. Eastern Time, to cooperate on innovation in cross-border digital asset payments and remittance services.
The agreement was signed on the sidelines of SIBOS 2026, the annual global financial services conference organized by SWIFT, at the Miami Beach Convention Center in Florida. 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, attended the signing ceremony along with other officials from the two institutions.
The partnership will initially focus on improving overseas remittance services for foreign customers, including international students. KB Kookmin Bank plans to leverage BNY’s global payments network and “Pay to Wallet” capabilities to provide more convenient and tailored cross-border transfer services.
The two institutions will also explore broader cooperation by combining their global networks and expertise in foreign exchange and payments to improve the overall cross-border transaction experience.
The agreement comes as financial institutions worldwide are expanding efforts to incorporate digital technologies into payment and settlement infrastructure. Industry observers note that partnerships between banks and global financial infrastructure providers are becoming increasingly important as digital assets and new payment technologies gain traction in cross-border financial transactions.
For KB Kookmin Bank, the partnership also provides an opportunity to connect its foreign exchange and payment capabilities with BNY’s extensive global network. The cooperation could help the bank expand services for customers who frequently move funds across borders, particularly foreign residents and international students.
The two sides plan to examine additional opportunities in digital payments, digital assets and next-generation financial infrastructure.
“Through this partnership with a trusted global partner, we have established a foundation for cooperation in overseas payment innovation,” a KB Kookmin Bank official said. “We will continue to lead financial innovation by providing differentiated digital financial services in digital payments, digital assets and next-generation financial infrastructure.”
