According to CoinDesk, South Korea’s largest trading company, POSCO International, is collaborating with LG CNS, a technology subsidiary of the LG Group, to pilot the tokenization of real-world trade receivables on the Layer-1 blockchain Injective. The project aims to accelerate commercial payment processes among POSCO’s global subsidiaries by placing receivables on-chain to create a shared ledger accessible to buyers, sellers, and banks, enabling compliance rules to move seamlessly with the assets—potentially drastically reducing the traditional reconciliation cycle, which can take several days. POSCO International generated $22.2 billion in revenue last year, with operations spanning steel, energy, and battery materials.
POSCO International and LG CNS Pilot Trade Receivables Tokenization on the Injective Blockchain
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Summary
POSCO International, South Korea’s leading trading company, is testing trade receivables tokenization with LG CNS on the Injective blockchain. The project leverages on-chain trading signals to streamline payments across global subsidiaries by establishing a shared ledger for buyers, sellers, and banks, potentially reducing reconciliation times from days to near real-time. The company reported $22.2 billion in revenue last year, with a focus on steel, energy, and battery materials. Support and resistance levels in trade finance may evolve as blockchain adoption expands.
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