POSCO International Completes Receivables Tokenization Pilot on Avalanche

POSCO International America has completed a pilot project to tokenize receivables based on the Avalanche blockchain. This pilot was conducted in collaboration with the trade finance platform Olea and the asset tokenization platform Intain. POSCO International issued receivables generated from trade transactions as digital assets and recorded them on-chain, allowing for the tracking of asset ownership and status on the blockchain. Intain verified the receivables by cross-referencing data from invoices, purchase orders, credit notes, and shipping documents, and registered them on-chain. The pilot process was carried out on 'Intain L1' and was designed to meet regulatory standards in conjunction with existing trade finance procedures. The three companies confirmed that this pilot increased visibility and operational control over assets while reducing the complexity of document and data reconciliation. Olea CEO Amelia Ng stated that this pilot represents a significant advancement towards actual implementation. Intain CEO Siddhartha emphasized the importance of establishing the authenticity of assets through AI and blockchain, adding that it is crucial to tokenize assets first before tokenizing finance.

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