KB Kookmin Card Partners with Japan's SBI Holdings... "Explores Potential for Stablecoin Payments Between the Two Countries via KB Pay"

Based on the "KYA Trust Gateway"
Pursuing a Technology Proof of Concept to Verify AI Agent Identities and Permissions

KB Kookmin Card said on October 13 that it had signed a memorandum of understanding (MOU) on digital finance cooperation with Japan's SBI Holdings, SBI EVERSPIN and EVERSPIN.

A view of the KB Kookmin Card headquarters in Jongno-gu, Seoul. Kookmin Card

Under the agreement, the participating companies will jointly explore ways to connect services in Korea and Japan using artificial intelligence (AI) agents and digital payments.

SBI Holdings is a Japanese financial group that operates financial businesses, including securities, banking and insurance, as well as a digital asset business. EVERSPIN provides cybersecurity technology to the financial sector. SBI EVERSPIN is a joint venture established by the two companies to target the Japanese market.

SBI EVERSPIN is planning the KYA (Know Your Agent) Trust Gateway, an identity and access management platform for AI agents, and is working with EVERSPIN to develop it. In this collaboration, the two companies will conduct a technology proof of concept for verifying the identities and permissions of AI agents.

The participating companies will work together to establish a trusted framework in which AI agents can safely carry out tasks within the scope authorized by users. This is in preparation for an environment in which agents search for services, make reservations and payments, and perform other tasks on users' behalf.

In the initial phase of the proof of concept, the companies will first verify the process for confirming the identity of a Japanese AI agent when it accesses a Korean service. They then plan to gradually expand the scope to include management of access permissions for individual services. Based on the results, they will also explore the possibility of connecting the technology with payment services such as the KB Pay app.

In a subsequent phase, they will consider ways to connect digital assets held by Japanese tourists, including stablecoins, with domestic payment systems. Assuming use at domestic merchants, they will also review operational procedures for payments and settlements, as well as cancellations and refunds and responses to fraudulent transactions.

The companies plan to assess the potential to commercialize related services based on the results of the proof of concept. They will also pursue connections with a range of financial and non-financial services and gradually expand the scope of cooperation between Korea and Japan.

A KB Kookmin Card official said, "This agreement will allow us to jointly explore the potential for digital payment cooperation between our two countries. We will work together to provide customers in both countries with a convenient and secure digital payment experience."

An SBI Holdings official said, "We will explore new service models by combining the SBI Group's financial capabilities with the participating companies' AI and security technologies. Based on the proof of concept, we will develop collaborative initiatives that could lead to services such as stablecoin payments."

This content was produced with the assistance of AI translation services.