South Korea’s Largest Trading Company Announced: They Selected This Altcoin for Global Payments
South Korean trading giant POSCO International aims to accelerate global payment processes by converting its trade receivables into digital assets on the Injective (INJ) network.
POSCO International, South Korea’s largest trading company, has signed a strategic collaboration with LG CNS, the technology arm of the LG Group. The company is modernizing payment traffic among its subsidiaries by tokenizing trade receivables on the blockchain, arising from its wide range of operations in sectors such as steel, energy, and battery materials. This move is seen as a critical step in replacing traditional financial methods with faster and more transparent digital solutions.
As part of the pilot study, real trade data obtained from POSCO’s overseas operations are being utilized. Trade receivables are financial rights representing the period after a product has been shipped but before payment has been collected. Under normal circumstances, reconciliation processes that take days between banks and companies can be tracked instantly thanks to the technology provided by the Injective (INJ) network. This allows all parties to monitor the status of assets through a single ledger.
Tokenization Revolution in Global Trade
The tokenization process is not limited to stocks or funds; it is also shaping the financing of the real sector. According to estimates by Citi, the tokenized asset market could reach $5.5 trillion by 2030. South Korea stands out as one of the leading countries in adaptation in this field. The fact that the country’s flagship giant companies are turning to this technology proves how widespread institutional blockchain use has become.
LG CNS had previously proven its expertise in this field by participating in the Bank of Korea’s digital currency projects. This new testing process conducted with POSCO is planned to be completed and fully implemented by the end of the year. This development clearly demonstrates the role that smart contracts and AI-supported processes will play in the future of global trade.