POSCO International has begun a blockchain pilot with LG CNS to tokenize live trade receivables on the Injective network, in a test aimed at accelerating payments between the South Korean trading company's global subsidiaries.

The project places receivables on a shared blockchain ledger so buyers, sellers and banks can use a single transferable record that carries compliance rules with the asset itself. The companies said the approach is intended to reduce reconciliation times and support faster settlement in commercial payment processes.

POSCO International, South Korea's largest trading company, generated $22.2 billion in revenue last year from businesses spanning steel, energy and battery materials. It is working with LG CNS, the technology arm of LG Group, to issue, transfer and settle receivables on layer-1 blockchain Injective, where INJ was quoted at $4.9562 in the source report. The firms disclosed the project to CoinDesk in a press briefing. Source: https://www.coindesk.com/business/2026/07/26/south-korea-trading-giant-puts-receivables-onchain-in-tokenization-test-with-lg-cns

Unlike a simulation, the pilot uses receivables produced by real trade between POSCO's overseas operations and their counterparties. Trade receivables are amounts owed to a company after goods have been shipped but before payment has been received. In current processes, those claims are usually tracked separately by buyers, sellers and banks, and reconciliation can take days before cash is released.

That makes receivables a practical test case for enterprise tokenization because they are tied to existing invoices and payment obligations rather than newly created financial products. For multinational trading companies, the operational challenge is often not whether a receivable exists, but whether all parties are working from the same verified record when payment, financing or settlement decisions are made.

The companies said recording receivables on a shared blockchain ledger creates a single record that can be transferred and settled while embedding compliance requirements directly into the asset.

"This PoC is significant in that it validated the applicability of AI and blockchain technology based on real trade data and processes," a POSCO International spokesperson said.

POSCO International said it plans to expand the initiative into live production after completing the pilot later this year.

Tokenization moves beyond funds and equities

Recent industry activity around tokenization has focused heavily on funds and stocks. Asset managers including BlackRock, Franklin Templeton, Apollo, Fidelity, Janus Henderson and Mubadala Capital have brought funds onchain, with the aim of using blockchain infrastructure to streamline issuance, settlement and collateral management.

The market for tokenized assets has grown rapidly in recent years to about $35 billion, while Citi estimates that the market could reach $5.5 trillion by 2030.

Trade finance is another area being explored for blockchain-based tokenization. Receivables represent real commercial obligations between businesses, which could allow companies to move working capital more efficiently on blockchain rails while giving banks and financing partners a shared view of the asset.

South Korea has emerged as one of the more active markets for corporate blockchain adoption. Earlier this month, Hyundai began using stablecoins for internal treasury transfers between its U.S. and Mexico operations. Stablecoin issuer Circle also recently partnered with Kakao Group and Toss Bank to explore stablecoin payment infrastructure.

Through the Injective pilot, POSCO International and LG CNS are extending that corporate blockchain activity into global trade finance. LG CNS has previously worked on the Bank of Korea's central bank digital currency pilot and operates tokenization platforms for KOSCOM and Mirae Asset Securities.