POSCO International tests blockchain receivables with LG CNS on Injective
South Korea’s largest trading company is moving live commercial invoices onto a blockchain ledger to accelerate cross-border payments and reduce reconciliation friction in global trade finance.
POSCO International has begun tokenizing live trade receivables on the Injective layer-1 blockchain in a pilot with technology partner LG CNS. The initiative moves actual commercial invoices onto a shared ledger to accelerate payments between the trading giant's global subsidiaries.
Trade receivables represent capital owed to a business after goods are shipped but before payment clears. Traditionally, buyers, sellers, and banks track these obligations separately, requiring days of reconciliation to release cash. The new system creates a single transferable record that embeds compliance rules directly into the asset, eliminating the need for disparate tracking systems across the supply chain.
POSCO International generated $22.2 billion in revenue last year across steel, energy, and battery materials. The company intends to transition the pilot into live production later this year once testing concludes with actual commercial invoices rather than simulated transactions. "This PoC is significant in that it validated the applicability of AI and blockchain technology based on real trade data and processes," a company spokesperson said.
Expanding corporate blockchain adoption
The pilot reflects a broader shift in asset tokenization beyond traditional equities and funds. Major asset managers, including BlackRock and Franklin Templeton, have recently moved fund shares onchain to streamline issuance and settlement. This corporate push has driven the total tokenized asset market to $35 billion, with Citi estimating the sector could expand to $5.5 trillion by 2030.
Tokenizing real commercial obligations offers a distinct advantage for working capital management. It allows companies to move capital more efficiently while providing banks and financing partners with a unified view of the underlying asset. South Korea has emerged as a highly active testing ground for these enterprise blockchain applications.
Automaker Hyundai recently deployed stablecoins for internal treasury transfers between its United States and Mexico operations, while stablecoin issuer Circle is exploring payment infrastructure with Kakao Group and Toss Bank. LG CNS brings deep institutional experience to the POSCO partnership as the technology arm of the wider LG Group. The firm has previously operated tokenization platforms for Mirae Asset Securities and KOSCOM, and it participated in the Bank of Korea's central bank digital currency pilot.
