KB Financial Wraps Up Kaia-Based Stablecoin Payment Test

KB Financial Group, the parent company of KB Kookmin Bank, has successfully wrapped up a blockchain-powered stablecoin pilot built on the Kaia network. The project focused on offline payments and cross-border remittances, testing the complete operational cycle of a Korean won-pegged stablecoin — from issuance and merchant settlement to international money transfers.

As part of the pilot, the digital won was exchanged for a U.S. dollar-denominated stablecoin and transferred to a bank account in Vietnam. According to the company, the transaction was finalized in less than three minutes while cutting fees by 87% compared to traditional transfers processed through the SWIFT system.

The initiative also moved beyond remittances into everyday retail use cases. At Holly's coffee stores in Seoul, customers could complete payments using QR codes without installing a separate cryptocurrency wallet.

Source: Yonhap