KB Kookmin Card Signs AI Digital Payments Partnership With SBI Holdings, Everspin
Summary
- KB Kookmin Card said it signed a four-party memorandum of understanding with SBI Holdings, Everspin and SBI Everspin to cooperate on AI-based digital finance and payment services.
- The participants said they plan to jointly review AI agent security systems and the commercialization potential of cross-border digital payment services based on the KYA Trust Gateway.
- The participants said they plan to review South Korea-Japan payment services using stablecoins and other digital assets, assess commercialization potential and expand the scope of cooperation.
Forecast Trend Report by Period
KB Kookmin Card said on Oct. 13 that it signed a four-party memorandum of understanding with Japan's SBI Holdings, Everspin and SBI Everspin on AI agent security technology and digital finance and payment services between South Korea and Japan.
The agreement is intended to establish a security framework that verifies the identity of AI agents and the authority delegated to them by users. The companies will also examine the commercial viability of cross-border digital payment services using that framework. The participants plan to jointly pursue technology demonstrations and links to financial services based on the KYA, or Know Your Agent, Trust Gateway.
The KYA Trust Gateway is a security platform that verifies an AI agent's identity and checks the scope of tasks and service access rights delegated by a user. SBI Everspin, a joint venture operated by SBI Holdings and Everspin, designed the platform and is developing the related technology with Everspin. In the initial demonstration, the companies will verify procedures for confirming the identity of Japanese AI agents seeking access to services in South Korea. They then plan to broaden the scope to include transaction authorization management.
Through the partnership, KB Kookmin Card will also review the potential to link AI agents with its payment platform, KB Pay. The key issue is setting up procedures to verify prior approval and transaction authority when an AI agent makes a payment on a user's behalf. The company aims to build an environment in which AI-based automated services can be used safely in actual financial transactions.
A South Korea-Japan payment service using stablecoins is another major area of cooperation. The participants will examine ways to enable Japanese tourists to use stablecoins and other digital assets at South Korean merchants. They also plan to review operational procedures required for a live service, including payment and settlement, as well as cancellations, refunds and responses to fraudulent transactions. Based on the results of the demonstration, the companies will assess commercialization and consider expanding the scope of cooperation.
A KB Kookmin Card official said the agreement would help verify the foundation needed for AI agents to be used safely across a range of services. The official added that the company would work with its partners to provide customers in South Korea and Japan with a convenient and secure digital payment experience.
An SBI Holdings official said the company would explore new service models by combining the SBI Group's financial capabilities with the AI and security technologies of the participating companies. The goal is to build examples of cooperation that could lead to services such as stablecoin payments based on the demonstration, the official said.
An Everspin official said public concern has grown as AI-based cyberattacks such as ARTEX become a reality. The company has demonstrated its technology by detecting ARTEX attack attempts in live financial service environments. The official added that Everspin's record of detecting about 25 billion cyber threats across more than 150 financial institutions in South Korea and overseas underscores the strength of its security technology.
