⚡️🇰🇷 South Korea trading giant puts receivables onchain in tokenization test with LG CNS
POSCO International, South Korea's largest trading company, has begun tokenizing trade receivables on blockchain in a test that could speed up commercial payments between its global subsidiaries. The company is working with LG CNS, the technology arm of LG Group, to issue, transfer and settle receivables on layer-1 blockchain Injective
🔜 The pilot is using receivables generated by real trade between POSCO's overseas operations and their counterparties rather than simulated transactions. Trade receivables represent money owed to a company after goods have been shipped but before payment is received.
🔜 The companies said putting receivables on a shared blockchain ledger creates a single record that can be transferred and settled while carrying compliance rules with the asset itself.
The initiative, which POSCO plans to move into live production after the pilot, underscores South Korea’s growing corporate adoption of blockchain in areas such as trade finance, stablecoin-based treasury transfers and asset tokenization. 🚀
@QSIMedia
POSCO International, South Korea's largest trading company, has begun tokenizing trade receivables on blockchain in a test that could speed up commercial payments between its global subsidiaries. The company is working with LG CNS, the technology arm of LG Group, to issue, transfer and settle receivables on layer-1 blockchain Injective
🔜 The pilot is using receivables generated by real trade between POSCO's overseas operations and their counterparties rather than simulated transactions. Trade receivables represent money owed to a company after goods have been shipped but before payment is received.
🔜 The companies said putting receivables on a shared blockchain ledger creates a single record that can be transferred and settled while carrying compliance rules with the asset itself.
The initiative, which POSCO plans to move into live production after the pilot, underscores South Korea’s growing corporate adoption of blockchain in areas such as trade finance, stablecoin-based treasury transfers and asset tokenization. 🚀
@QSIMedia