POSCO International partners with LG CNS to pilot trade receivables tokenization on the Injective blockchain
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POSCO International partners with LG CNS to pilot trade receivables tokenization on the Injective blockchain
According to CoinDesk, South Korea's largest trading company POSCO International is collaborating with LG CNS, a technology subsidiary under the LG Group, to pilot the tokenization of real trade accounts receivable on the Layer-1 blockchain Injective. The project aims to accelerate commercial payment processes among POSCO's global subsidiaries by placing accounts receivable on-chain, building a single ledger shared by buyers, sellers, and banks, enabling compliance rules to flow synchronously with assets, and is expected to significantly compress the traditional reconciliation cycle that typically takes several days. POSCO International reported revenue of $22.2 billion last year, with operations covering steel, energy, and battery materials, among other fields.
Navigating Web3 tides with focused insightsTechFlow News, July 27: According to CoinDesk, South Korea's largest trading company POSCO International is collaborating with LG CNS, a technology subsidiary under LG Group, to pilot the tokenization of real trade accounts receivable on the Layer-1 blockchain Injective. The project aims to accelerate commercial payment processes between POSCO's global subsidiaries by putting accounts receivable on-chain to build a single ledger shared by buyers, sellers, and banks, enabling compliance rules to flow synchronously with assets, and is expected to significantly shorten the traditional reconciliation cycle that takes several days. POSCO International's revenue reached $22.2 billion last year, with business covering steel, energy, battery materials, and other sectors.
