POSCO International Tokenizes Trade Receivables on Avalanche Blockchain
South Korea's POSCO International completed a trade receivables tokenization deal on Avalanche, working with Olea and Intain, following an earlier Injective pilot.
AfroEuropa Newsroom
AfroEuropa desk
POSCO International, one of South Korea's largest trading companies, has completed a transaction that tokenized trade receivables on a blockchain built on Avalanche, according to reports from BitKE and CoinDesk. The move is part of the company's ongoing testing of blockchain technology for corporate finance.
The company's U.S. subsidiary carried out the transaction alongside trade-finance platform Olea and asset-backed finance firm Intain. Intain applied artificial intelligence to reconcile invoices, purchase orders, credit notes, and shipping documents, then recorded the verified receivables on its blockchain network.
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