POSCO and LG CNS start blockchain pilot for trade receivables

POSCO International, South Korea's largest trading company, has launched a proof-of-concept pilot to tokenize live trade receivables using blockchain technology, in partnership with the IT services firm LG CNS and the Injective network. The test, announced in July 2026, involves the digitization of real invoices and payment obligations generated by the company's overseas subsidiaries and their commercial counterparties, moving beyond simulated data to assess the technology's practical impact on global trade finance.

The initiative aims to replace the traditional, paper-intensive trade finance process, which often involves manual verification across disparate systems among buyers, sellers, banks, and insurers, leading to delays and inefficiencies. By placing receivables on a shared blockchain ledger, the partners seek to create a single, immutable record that authorized participants can use to track ownership, transaction history, and settlement status in real time. The system embeds compliance rules and transfer conditions directly within each tokenized asset.

A POSCO International spokesperson stated that the proof of concept validated the applicability of both artificial...