Tech giant LG CNS rolls out blockchain platform for stablecoins and tokenized assets

LG CNS, the LG Group–backed IT services and systems integrator, has introduced KITL, a shared blockchain infrastructure platform targeting banks, brokerages, card companies and payment firms preparing to launch digital asset services.

Announced on Oct. 6, the platform provides four core functions, including digital wallets, transaction processing, fee sponsorship and transaction history collection, which can be reused across businesses such as stablecoins and security tokens.

It also supports blockchain networks beyond Ethereum, including Solana, allowing financial firms to expand their digital-asset operations without rebuilding their infrastructure for each network.

LG CNS has also partnered with global blockchain companies including Circle, Securitize, Chainalysis and Chainlink to connect technology for stablecoins, tokenization, transaction monitoring and cross-chain interoperability.

Securitize and LG CNS are separately expanding their relationship through a memorandum of understanding focused on South Korea’s tokenized-asset market.

Under the partnership, they will work with Korean and Asia-Pacific financial institutions on tokenized securities, stablecoins and institutional tokenized funds, while exploring products tailored to Korea’s regulatory environment.

The companies will also examine stablecoin infrastructure, digital-asset treasury solutions and connections between Korean and global markets that could eventually support 24/7 distribution, execution and settlement, subject to applicable laws and approvals.

LG’s blockchain ambitions are getting a lot more practical. The Korean conglomerate, which once used the technology to sell NFTs through smart TVs, has partnered with Arbitrum to explore a blockchain-based advertising network that could connect advertisers and publishers through a shared ledger for ad inventory and customer engagement data, Fortune reported in June.