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Crypto

KB Kookmin Bank to launch import-export payments using JPMorgan Kinexys blockchain network

KB Kookmin Bank said on Saturday it will launch next month a corporate payment service for import and export firms using JPMorgan Kinexys\' blockchain-based payment network. The service follows a memorandum of understanding on blockchain remittances for cross-border payment innovation. The bank said it is the first time a South Korean financial company has used Kinexys for payments to import-export firms. The service will be available at domestic branches and its Singapore branch, initially supporting U.S. dollar remittances to 10 countries.

Crypto

XRP demand weakens across ETFs, futures and network activity as XRPL expands for institutions

XRP demand is weakening across spot ETFs, futures positioning and on-chain activity, even as institutional use of the XRP Ledger expands. Spot XRP ETFs logged $7.2 million of weekly net outflows, while global futures open interest fell to about $2.3 billion by mid-July. On-chain activity showed fewer active and new wallets, although source-tag transactions rose. Institutions are pursuing tokenised assets and proposed confidential transfer features, raising questions about whether usage will recover.

Crypto

JPMorgan backs U.S. Clarity Act but warns on regulatory loopholes

JPMorgan publicly backed the U.S. federal digital asset bill known as the Clarity Act, while warning that a loose regulatory framework could revive vulnerabilities that existing financial rules sought to block. In a joint article by Umar Farooq and Peter Muriungi, the bank said regulatory clarity must be paired with durable safeguards. It also flagged risks in market structure, stablecoin incentives and consumer misunderstanding, and called for stronger anti-money laundering and enforcement tools.