LG CNS Launches KITL Blockchain Platform for South Korea's Digital Asset Sector
LG CNS, a South Korean IT services company, has introduced KITL (Keystone of Institutional Trust Landscape), a blockchain infrastructure platform designed to support digital asset businesses. The platform targets financial institutions, including banks, securities firms, and payment processors, offering core functions like digital wallets, transaction processing, gas fee sponsorship, and transaction history collection. KITL is built to scale beyond Ethereum, accommodating other blockchains like Solana, and is tailored to help financial institutions adapt to regulatory changes without overhauling their systems.
The digital wallet feature in KITL uses patented technology that generates private keys only when needed for signing transactions and then discards them immediately. This approach eliminates the need for traditional hardware security modules (HSMs) and was validated through the Bank of Korea's Project Hangang, a CBDC pilot involving seven banks and around 80,000 participants. The platform's transaction processing function ensures transactions are properly recorded on the blockchain, while the gas fee sponsorship feature allows service providers to cover blockchain usage fees. The transaction history collection function helps stablecoin issuers reconcile issuance volumes against fiat currency reserves.
LG CNS has partnered with five global firms to build a robust ecosystem around KITL. These include Circle, the issuer of USDC, Securitize for tokenized securities, Canton Foundation for global financial transactions, Chainalysis for transaction monitoring, and Chainlink for integration services. The company aims to leverage its experience in systems integration and the proven technology from Project Hangang to capture the digital asset market in South Korea.
Kim Hong-geun, vice president and head of LG CNS's Digital Business Division, stated that KITL will provide the essential infrastructure and global partnerships needed for digital asset businesses, enabling financial institutions to launch services as soon as regulations take effect.