FinancePOSCO International and LG CNS are utilizing the Injective blockchain to tokenize real-time trade receivables, indicating a deeper integration of blockchain technology into corporate finance.
POSCO International Collaborates with LG CNS to Streamline Payments Using Blockchain
By Krisztian Sandor|Edited by Nikhilesh De Jul 27, 2026, 12:00 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on South Korea (Photo by Daniel Bernard on Unsplash)SummaryShow- Through a pilot project, POSCO International is tokenizing its trade receivables on the Injective blockchain in collaboration with LG CNS to facilitate quicker payments among its international subsidiaries.
- This initiative aims to create a unified blockchain record for receivables, embedding compliance rules and minimizing reconciliation time for all parties involved.
- Following the pilot's success, POSCO plans to transition to full production, highlighting the increasing use of blockchain in South Korea's corporate sector.
POSCO International, the largest trading entity in South Korea, has initiated a pilot program to tokenize its trade receivables using blockchain technology, which could accelerate payment processes among its global subsidiaries.
Reportedly, the company earned $22.2 billion in revenue last year across various sectors including steel, energy, and battery materials. It is collaborating with LG CNS, the technology division of LG Group, to facilitate the issuance, transfer, and settlement of receivables on the Injective blockchain, according to a recent CoinDesk press briefing.
The pilot utilizes actual trade receivables generated from POSCO's international operations, rather than hypothetical scenarios.
Trade receivables refer to the amounts owed to a company after goods have been dispatched but before payment is finalized. Currently, these claims are managed separately by buyers, sellers, and banks, often leading to lengthy reconciliation periods before funds are accessible.
By integrating receivables onto a shared blockchain ledger, the firms aim to create a singular record that can be easily transferred and settled, while ensuring compliance with relevant regulations.
A spokesperson from POSCO International remarked, "This PoC is significant in that it validated the applicability of AI and blockchain technology based on real trade data and processes." The company intends to expand this initiative into full-scale production after the pilot concludes later this year.
Tokenization: Beyond Funds and Stocks
Recent industry focus has largely been on tokenizing financial assets like funds and equities. Major asset management firms such as BlackRock, Franklin Templeton, Apollo, Fidelity, Janus Henderson, and Mubadala Capital have initiated on-chain funds, based on the belief that blockchain can enhance issuance, settlement, and collateral management. The market for tokenized assets has surged to approximately $35 billion, with Citi projecting it could hit $5.5 trillion by 2030.
Trade finance presents another promising avenue for blockchain technology. Receivables signify tangible commercial obligations, enabling businesses to optimize working capital while providing banks and financial partners with a unified perspective of the asset.
South Korea is emerging as a frontrunner in corporate blockchain adoption. Recently, Hyundai began using stablecoins for internal treasury transactions between its U.S. and Mexico divisions. Additionally, stablecoin issuer Circle has teamed up with Kakao Group and Toss Bank to investigate stablecoin payment frameworks.
With this initiative on Injective, POSCO and LG CNS are advancing their efforts in global trade finance. LG CNS has previously participated in the Bank of Korea's central bank digital currency pilot and operates tokenization platforms for KOSCOM and Mirae Asset Securities.
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Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
By CoinDesk ResearchJul 22, 2026Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
Why it matters:
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
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