According to Daily Economic, KB Kookmin Bank of South Korea will launch, in August, an import and export business settlement service based on JPMorgan’s Kinexys blockchain network, becoming the first financial institution in South Korea to use this network for corporate cross-border payments. The service will be provided through in-country branches in South Korea and a branch in Singapore. The initial rollout covers 10 countries including South Korea, the United States, Singapore, Saudi Arabia, India, Thailand, Qatar, the UAE, Bahrain, and South Africa, and will prioritize support for USD remittances.