LG CNS unveils blockchain tech to help banks issue stablecoins, tokens
LG CNS launched a blockchain infrastructure platform designed to help financial institutions build services around stablecoins, tokenized securities and real-world assets as Korea’s financial sector moves toward broader use of digital assets. The information technology services giant said Tuesday that its new platform, called KITL, provides four core functions: digital wallets, transaction…
LG CNS introduced a blockchain infrastructure platform named KITL, aimed at assisting financial institutions in creating services centered around stablecoins, tokenized securities, and real-world assets. As Korea's financial industry embraces digital assets, the platform offers four core functionalities: digital wallets, transaction processing, fee payment, and transaction data collection.
KITL was developed to tackle infrastructure challenges that arise when financial institutions deal with assets on public blockchains, where transactions take place outside systems directly managed by banks, securities firms, and other service providers. The platform's wallet system can create private keys only when signatures are necessary, and subsequently destroy them, enabling institutions to issue wallets at a large scale without the need for continuously increasing hardware security module capacity.
The technology behind KITL was developed as part of the Bank of Korea's Project Hangang, and it was tested in a real transaction environment involving seven parties.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
