POSCO puts live trade receivables onchain with LG CNS

POSCO International is testing blockchain-based trade finance with LG CNS and Injective. Summary POSCO is testing tokenized receivables created from real trades between overseas subsidiaries and commercial counterparties. LG CNS and Injective support issuance, transfer, compliance controls and settlement on one shared ledger. POSCO plans production use after testing, but has not disclosed performance data or transaction values. The South Korean trading company has placed receivables from real commercial transactions into a proof-of-concept system that can issue, transfer and settle the claims onchain. The trial uses trade data from POSCO International’s overseas subsidiaries and their counterparties, rather than simulated invoices. The companies aim to create one shared record for buyers, sellers and financing partners while keeping compliance rules linked to each digital claim. POSCO tests real commercial receivables on Injective Trade receivables are amounts that customers owe after a company delivers goods or services. Businesses often record the same invoice across separate systems. Each party must check documents and payment status before settlement. CoinDesk reported that the...