KB Kookmin Bank signed a strategic memorandum of understanding with BNY on Sept. 28 during Sibos 2026 in Miami, covering digital payments, digital assets and cross-border remittance services. Kookmin Bank is among the initial Asia-Pacific users of BNY’s Pay-to-Wallet capability, which uses SWIFT messages, correspondent banking infrastructure and BNY’s U.S. dollar clearing network to send funds from bank accounts directly to participating retail digital wallets. The first stated use cases include overseas remittances for foreign residents and international students. The service is not described as a cryptocurrency transfer product, and neither bank has said that the initial deployment will use USDC or other digital assets for settlement. The agreement builds on Kookmin Bank’s earlier blockchain-based corporate payment, digital bond and won-linked digital money initiatives, while BNY continues expanding its institutional digital-asset services.