CoinDesk
POSCO International, South Korea's largest trading company with $22.2 billion in 2024 revenue spanning steel, energy and battery materials, has begun tokenizing live trade receivables on the Injective blockchain in a pilot with LG CNS, the technology arm of LG Group. The pilot uses receivables generated by real transactions between POSCO's overseas operations and their counterparties rather than simulated flows.
By placing receivables on a shared blockchain ledger, the companies aim to create a single, transferable record that embeds compliance rules with the asset itself, replacing the multi-day reconciliation cycle that today runs separately across buyers, sellers and banks. POSCO plans to move the initiative into live production after completing the pilot later this year.
Why it matters
Trade receivables represent one of the largest un-tokenized asset pools in global commerce: real, enforceable commercial obligations sitting between shipment and payment. Putting them onchain lets corporates move working capital faster and gives financing partners a shared, auditable view of the underlying claim. The POSCO pilot joins a thinning but persistent push beyond the fund-and-equity tokenization wave led by BlackRock, Franklin Templeton and Apollo. Citi estimates the broader tokenized asset market could reach $5.5 trillion by 2030.
The South Korean corporate stack is also visibly accelerating. LG CNS has previously worked on the Bank of Korea's CBDC pilot and runs tokenization infrastructure for KOSCOM and Mirae Asset Securities. Earlier this month, Hyundai began using stablecoins for internal treasury transfers between its U.S. and Mexico operations, while Circle partnered with Kakao Group and Toss Bank on stablecoin payment rails.
Market impact
Injective is the layer-1 chosen for production-grade receivables rather than a permissioned sandbox, a vote of confidence for a public chain handling real corporate cash-flow instruments.
Frequently asked questions
-
What is POSCO International tokenizing on the Injective blockchain?
POSCO International is tokenizing live trade receivables, meaning real invoices owed to the company after goods have shipped but before payment, using the Injective blockchain in a pilot with LG CNS.
-
How large is POSCO International and why does this pilot matter?
POSCO International generated $22.2 billion in 2024 revenue across steel, energy and battery materials, making it South Korea's largest trading company. Its decision to put production-grade receivables on a public L1 signals corporate finance is moving beyond test sandboxes.
-
What problem does tokenizing receivables solve?
Today trade receivables are tracked separately by buyers, sellers and banks, with reconciliation often taking days. Putting them on a shared blockchain ledger creates one transferable record that carries compliance rules with the asset itself.
-
Why was Injective chosen over a private blockchain?
The companies selected the public Injective layer-1 rather than a permissioned network, a notable choice given the assets are real corporate cash-flow instruments rather than synthetic test data.
-
How does this fit into South Korea's broader blockchain adoption?
It extends a visible Korean corporate push: Hyundai recently began using stablecoins for internal treasury transfers between its U.S. and Mexico operations, and Circle partnered with Kakao Group and Toss Bank on stablecoin payment infrastructure.
CryptoSlate
Crypto Rank News
TheBlock