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South Korea trading giant puts receivables onchain in tokenization test with LG CNS

POSCO International, South Korea's largest trading firm, has launched a pilot program to tokenize trade receivables on the Injective blockchain. Developed in collaboration with LG CNS, the initiative aims to streamline the settlement of commercial payments between POSCO's global subsidiaries by replacing fragmented manual reconciliation with a shared, immutable ledger. Unlike simulated tests, this pilot utilizes actual trade data from POSCO’s operations in sectors including steel, energy, and battery materials. By embedding compliance rules directly into the tokenized assets, the companies intend to reduce the multi-day settlement cycles typically required for trade finance. This move highlights a growing trend of corporate blockchain adoption in South Korea, following recent initiatives by Hyundai and other major conglomerates. The project serves as a significant proof-of-concept for applying blockchain to real-world commercial obligations, with plans to transition into live production later this year. This development underscores the broader industry shift toward tokenizing diverse asset classes beyond traditional funds and equities to improve working capital efficiency.

CoinDesk·4h ago