POSCO brings trade receivables to Avalanche in tokenization move

POSCO International completed a transaction that converted trade receivables into digital assets on an Avalanche-based blockchain network. POSCO International is South Korea's largest trading company. POSCO International's U.S. arm worked with trade finance platform Olea and asset-backed finance technology firm Intain. The companies announced the transaction on Tuesday. Intain used artificial intelligence to reconcile invoices, purchase orders, credit notes and shipping documents. Intain then verified and recorded the receivables on its Layer-1 network built on Avalanche. Trade receivables are amounts owed after a company delivers goods and before the customer pays. Companies can borrow against the invoices. A shared blockchain ledger creates a common record of ownership and asset status. The companies plan to explore stablecoin-based cross-border settlements and digital treasury tools. The transaction followed a POSCO International pilot with LG CNS announced last month. That pilot issued, transferred and settled tokenized receivables on Injective. The pilot used receivables from live trade between POSCO International's overseas subsidiaries and their counterparties.