POSCO International Tests Tokenized Trade Finance on Avalanche
POSCO International has successfully tested tokenized trade finance on the Avalanche blockchain with the help of Olea. The South Korean trading company used this innovative method to turn real trade receivables into blockchain-based assets, marking a significant step towards streamlining international trade.
The pilot involved POSCO International America, Intain, and Olea, where Intain's Layer-1 network built on Avalanche technology played a crucial role. AI systems were used to verify invoices, shipping records, and other trade documents before registration, ensuring that the underlying transactions matched.
Once verified, Intain logged the receivables in its network, creating a transparent ownership trail for the assets. Meanwhile, Olea handled the financing using its own capital, demonstrating the potential of tokenized trade finance to reduce paperwork and enhance settlement efficiency.