POSCO tokenizes trade receivables on Avalanche blockchain in pilot with Standard Chartered-backed Olea

POSCO International, the trading arm of South Korea’s steel and industrial conglomerate POSCO Holdings, completed a pilot tokenizing real trade receivables on the Avalanche blockchain on August 25. The receivables weren’t hypothetical. Trade-finance firm Olea, backed by Standard Chartered’s venture arm SC Ventures, bought them with actual capital. How the pilot worked POSCO International America, the company’s US subsidiary, partnered with Intain, which operates a Layer-1 network built on Avalanche’s infrastructure. The process started with AI-powered verification of trade documents, including invoices and shipping records, checking them for consistency before anything touched the blockchain. Once verified, the receivables were registered on Intain’s network, creating an immutable ledger of ownership and transaction history. Olea then stepped in as both the trade-finance platform and the capital provider, purchasing the tokenized receivables. SC Ventures, Standard Chartered’s innovation and venture investment unit, backs Olea. Second pilot in a month Less than a month earlier, on July 27, the company completed a separate proof-of-concept with LG CNS, this time tokenizing trade rece...