South Korea’s largest trading company, POSCO International, is conducting a pilot to tokenize trade receivables on a blockchain. POSCO International generated $22.2 billion in revenue last year from steel, energy and battery materials, and the pilot uses receivables generated by real trade between POSCO’s overseas operations and counterparties, conducted with LG CNS, the technology arm of LG Group. The pilot tokenizes those receivables on a layer-1 blockchain using Injective (INJ) tokens.
POSCO International is working with LG CNS, the technology arm of LG Group, to run a pilot to tokenize trade receivables using receivables generated by real trade between POSCO’s overseas operations and counterparties. The pilot tokenizes those receivables on Injective’s layer-1 blockchain and uses the Injective token INJ as part of the implementation. POSCO International is South Korea’s largest trading company and generated $22.2 billion in revenue last year from steel, energy and battery materials. The pilot is described as a proof of concept using real trade data and processes.
Trade receivables are typically tracked by buyers, sellers and banks with reconciliation taking days. A shared blockchain ledger can transfer and settle receivables with compliance rules embedded in the asset. The plan is to expand the initiative into live production after completing the pilot later in the year. “This PoC is significant in that it validated the applicability of AI and blockchain technology based on real trade data and processes,” a POSCO International spokesperson said.
The asset tokenization market is cited at $35 billion currently, with Citi forecasting up to $5.5 trillion by 2030. Hyundai has begun using stablecoins for internal treasury transfers between the U.S. and Mexico. Circle is partnering with Kakao Group and Toss Bank to explore stablecoin payment infrastructure. Receivables represent real commercial obligations that enable faster working capital movement on blockchain rails.
Trade receivables are typically tracked by buyers, sellers and banks with reconciliation taking days. A shared blockchain ledger can transfer and settle receivables with compliance rules embedded in the asset. POSCO International is running a pilot to tokenize trade receivables on Injective’s layer-1 blockchain using the Injective token INJ. The plan is to expand the initiative into live production after completing the pilot later in the year.
LG CNS has previously worked on the Bank of Korea’s CBDC pilot and operates tokenization platforms for KOSCOM and Mirae Asset Securities. “This PoC is significant in that it validated the applicability of AI and blockchain technology based on real trade data and processes,” a POSCO International spokesperson said.
POSCO International and LG CNS are piloting tokenization of trade receivables on Injective’s layer-1 blockchain using the INJ token, applying receivables from real trade between POSCO’s overseas operations and counterparties. POSCO International, South Korea’s largest trading company with $22.2 billion in revenue last year, says the pilot validated AI and blockchain applicability on real trade data and will be expanded into live production later in the year.
