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POSCO International and LG CNS pilot tokenized trade receivables on Injective
The pilot places real, live trade claims on a shared ledger to speed payment settlement and cut reconciliation that can take days.
POSCO International is running a pilot with LG CNS to tokenize live trade receivables on the Injective blockchain, aiming to speed up payments between its global subsidiaries, CoinDesk reports.
The companies plan to issue, transfer, and settle receivables on layer-1 blockchain Injective, using receivables generated by real trade rather than simulated transactions. Trade receivables are money owed after goods ship but before payment is received, and reconciliation across buyers, sellers, and banks can take days.
By putting the receivables on a shared ledger, the firms say the approach creates a single transferable record that can include compliance rules embedded with the asset, reducing the time needed to reconcile before cash is released.
POSCO International said it intends to move the initiative into live production after completing the pilot later this year, and the company described the proof of concept as validating the use of AI and blockchain technology based on real trade data and processes.