POSCO International has partnered with LG CNS to test tokenized trade receivables on the Injective blockchain, according to ABMedia. The pilot is aimed at improving cross-border corporate finance workflows and opening a new use case for blockchain in international trade.
Shared ledger model targets slower reconciliation in cross-border trade
The report says receivables management in traditional cross-border trade is usually handled through separate records kept by the buyer, seller and financial institutions. Reconciliation and verification can take several days. By tokenizing receivables and invoices, the process can be handled with greater administrative efficiency.
In this pilot, POSCO International and LG CNS are using Injective to place issuance, transfer and settlement of receivables on a shared blockchain ledger. The setup relies on real trade data generated by POSCO International’s overseas business transactions. The goal is to establish a trusted on-chain ledger that improves audit visibility and speeds up cross-border capital movement.
POSCO International says the pilot is built on real operating data
POSCO International reported annual revenue of $22.2 billion and operates across steel, energy and battery materials. ABMedia said the project uses actual trade data rather than a purely theoretical test environment.
A spokesperson for POSCO International said the pilot carries weight because it is based on real trade databases and business processes, and because it verifies the applicability of combining artificial intelligence with blockchain. The company plans to expand the project into a production environment after completing the pilot this year.
LG CNS brings prior blockchain and tokenization experience
LG CNS, the technology arm involved in the project, has previously taken part in the Bank of Korea’s central bank digital currency, or CBDC, pilot. It has also built tokenization platforms for Korea Securities Computer Corporation, or KOSCOM, and Mirae Asset Securities, the report said. That experience is presented as a key source of technical support for the receivables project.
RWA tokenization extends beyond funds and equities
ABMedia said real-world asset tokenization has expanded quickly in recent years, with the market reaching $35 billion. Citi estimates the market could grow to $5.5 trillion by 2030.
Much of the market’s attention has previously centered on tokenized funds and equities pushed by asset managers such as BlackRock and Franklin Templeton. The report says on-chain trade finance is now emerging as another application area with room to grow, and that putting receivables on-chain can help companies allocate working capital more efficiently.
South Korean companies keep pushing blockchain use cases
The article also describes South Korea as one of the more active markets for enterprise blockchain adoption. It points to Hyundai’s use of stablecoins for moving funds between the United States and Mexico, as well as payment infrastructure efforts involving Circle, Kakao and Toss Bank. In the report’s framing, these examples show South Korean companies moving more on-chain assets into the global trade system.