POSCO International Completes Tokenization Proof-of-Concept for Trade Receivables on Avalanche

South Korean steel and trading giant POSCO International announced on August 25 that it has successfully completed a proof-of-concept (PoC) for tokenizing trade receivables on the Avalanche blockchain, in collaboration with Standard Chartered's trade finance platform Olea and asset tokenization platform Intain. In this business pilot, POSCO will issue tokenized digital assets backed by receivables generated from its trade transactions.

Intain is responsible for verifying the authenticity and ownership information of the assets through technical means, ensuring the reliability of on-chain data. The initiative aims to deploy physical trade data on the blockchain to optimize operations and test the possibility of faster trade settlements among POSCO's global subsidiaries.

[TechFlow]