POSCO International's U.S. Subsidiary Records Trade Receivables on Avalanche

POSCO International's U.S. subsidiary has tokenized trade receivables and recorded them on the Avalanche (AVAX) based network. This transaction marks the first instance of actual funds being involved a month after the proof of concept based on Injective (INJ) in July. POSCO International America completed an on-chain trade finance transaction in collaboration with Olea and Intain. Intain verified the data from invoices, purchase orders, credit notes, and shipping documents before registering them on the Avalanche-based Intain Layer 1 network. Olea purchased the tokenized receivables with actual funds. Trade receivables represent the rights to claim payment for goods or services provided by a company, requiring document verification and transaction status adjustment in trade finance. This transaction differentiates itself from previous proof of concepts through the use of AI verification and blockchain recording. POSCO International America converted receivables into digital assets, Intain handled asset verification and on-chain registration, while Olea acted as the funding provider. This transaction is seen as an attempt by a global company to connect traditional supply chains with digital financial infrastructure. In July, POSCO International completed a proof of concept for blockchain and AI-based trade finance infrastructure with LG CNS and also conducted technical verification utilizing the Injective network. Olea, Intain, and POSCO International America plan to explore the potential for tokenized trade finance and digital financial management in the future.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.