POSCO International Pioneers Tokenized Trade Finance on Avalanche

Korea's largest steelmaker, POSCO International, has successfully completed a trade finance transaction using tokenization on Avalanche's L1 network.

The transaction was carried out in collaboration with Intain and Olea, two companies that provide digital infrastructure for asset-backed financing and trade finance platforms, respectively.

The trade finance deal saw the conversion of accounts receivable into digital assets, which were then recorded on Intain's L1 network. The process involved verifying data from invoices, orders, credit notes, and shipping documents before registering it on-chain.

This development marks a significant step towards incorporating tokenization in existing trade finance workflows while maintaining the standards of institutional finance and compliance.