South Korea · CoinDesk
South Korea trade giant POSCO brings trade receivables to Avalanche in latest tokenization move
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POSCO International, South Korea's largest trading company, is pushing deeper into tokenized trade finance, completing a transaction that turned real-world receivables into digital assets on an Avalanche-based (AVAX) blockchain network one month after a similar pilot on Injective.
Key facts
- POSCO International, South Korea's largest trading company, generated $22.2 billion in revenue from businesses spanning steel, energy and battery materials and operates more than 80 overseas branches
- The move followed POSCO International's pilot with LG CNS announced last month to issue, transfer and settle tokenized receivables on Injective
- POSCO International, South Korea's largest trading company, is pushing deeper into tokenized trade finance, completing a transaction that turned real-world receivables into digital assets
- POSCO, Olea and Intain said they plan to explore further tokenized trade finance applications, including stablecoin-based cross-border settlement and digital treasury tools
Summary
POSCO International completed a transaction that converted trade receivables into digital assets on Intain’s Avalanche-based blockchain, following a similar pilot on Injective. Intain used artificial intelligence to reconcile and verify trade documents before recording the receivables on a shared ledger designed to reduce paperwork and accelerate financing. POSCO, Olea and Intain plan to explore stablecoin-based cross-border settlements and digital treasury tools as tokenization expands into trade finance. The firm's U.S. arm worked with trade finance platform Olea and asset-backed finance technology firm Intain on the transaction, the companies said Tuesday.