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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.
South Korean trading company POSCO International and LG CNS are conducting a pilot program to deploy real-time trade receivables on the Injective blockchain, aiming to accelerate payment processes among its global subsidiaries. By placing receivables on a shared blockchain ledger, the two parties create a single, transferable record embedded with compliance rules, reducing reconciliation time between buyers, sellers, and banks. POSCO plans to advance this project into a live production environment after the pilot. The initiative involves blockchain applications such as trade finance, stablecoin-based funds transfer, and asset tokenization.
Injective stated that it has submitted an application for transfer agent registration to the U.S. Securities and Exchange Commission. Transfer agents are responsible for maintaining official ownership records of securities and processing transfer changes; in traditional markets, this function is typically maintained off-chain by specialized institutions. This application aims to migrate this core market function on-chain, making the token itself the ownership record, thereby enabling tokenized securities to be registered and transferred within seconds and reducing intermediary verification steps.