POSCO and LG CNS Join Forces with Injective to Tokenize Trade Assets
POSCO International and LG CNS have partnered with Injective to tokenize real trade assets from international commerce, marking a significant step in enterprise blockchain adoption. The proof of concept (PoC) uses actual receivables generated by POSCO International's foreign subsidiaries and their counterparties.
The project aims to create a common ledger allowing authorized users to track ownership, transaction history, and settlement process, ensuring higher transparency, reduced costs, and effective management of working capital. Injective provides institutional blockchain infrastructure tailored for financial use cases, enabling companies to embed governance within assets, including ownership details and approval requirements.
The project combines blockchain and AI to optimize trade processes, reducing labor intensity and improving accuracy. LG CNS brings its extensive experience in enterprise blockchains to the development, supporting South Korea's CBDC project and developing financial blockchain projects.