POSCO International has started a pilot to tokenize live trade receivables on the Injective blockchain in partnership with LG CNS. The effort seeks to accelerate payments among the company's global subsidiaries using real commercial transactions. Plans call for expanding the project to live production later this year.
POSCO International, South Korea's largest trading company, generated $22.2 billion in revenue last year across steel, energy and battery materials. It is working with LG CNS to issue, transfer and settle receivables on the Injective layer-1 blockchain.
The pilot uses actual trade receivables from POSCO's overseas operations rather than test data. By placing the receivables on a shared ledger, the companies aim to create a single transferable record that carries compliance rules and reduces reconciliation times.
A POSCO International spokesperson said the proof of concept validated the use of AI and blockchain technology on real trade data and processes. The firm intends to move the initiative into production after the pilot concludes later this year.
The project forms part of broader South Korean corporate adoption of blockchain in trade finance and related areas.
