POSCO International, South Korea's largest trading company with $22.2 billion in revenue last year, has begun tokenizing trade receivables on the Injective blockchain in partnership with LG CNS, the technology arm of LG Group. The proof-of-concept issues, transfers, and settles receivables directly on-chain.
What sets this pilot apart from earlier corporate blockchain experiments is that it isn't using simulated data. The test runs on receivables generated by real trade between POSCO's overseas operations and their counterparties, meaning the invoices being tokenized reflect actual commercial activity rather than a sandboxed demo.
Why Receivables, Why Now
Trade receivables — the payments a company is owed for goods or services already delivered — are a natural target for tokenization because they're numerous, time-sensitive, and often sit on corporate balance sheets waiting to be financed or settled. Putting that process on-chain lets a company like POSCO issue and transfer claims on those payments faster and with a clearer audit trail than paper-based invoicing allows.
A POSCO International spokesperson said the project "validated the applicability of AI and blockchain technology based on real trade data and processes."
Part of a Bigger Trend
The pilot is scheduled to run through the rest of 2026, with POSCO planning to move into live production once it concludes. It also lands squarely in the middle of a rapid build-out in real-world-asset tokenization: the sector currently totals roughly $35 billion, and Citi has projected tokenized assets could reach $5.5 trillion by 2030.
POSCO and LG CNS aren't acting in isolation. The move follows Hyundai's use of stablecoins for treasury transfers, along with a string of blockchain partnerships in Korea involving Circle, Kakao Group, and Toss Bank — signs that some of the country's largest conglomerates are treating tokenization as infrastructure rather than experimentation. Injective, the layer-1 network hosting the pilot, was trading around $4.95 at the time of the announcement.
If POSCO does move the receivables program into production later this year, it would mark one of the more concrete examples yet of a major non-financial corporation routing real trade flows through public blockchain infrastructure rather than treating tokenization as a side project.
