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- LG CNS partnered with Chainlink to connect digital assets with blockchain networks.
- The October 22 agreement plans to expand Korean stablecoin use and develop institutional products.
- LG CNS intends the integration to help institutions use tokenized money across different networks.
LG CNS, LG Group’s technology services company, has partnered with Chainlink to connect its digital-asset platform with blockchain networks and financial institutions’ existing systems.
The agreement, announced Oct. 22, covers plans to expand Korean stablecoin use and distribution, develop products for institutions and establish technical standards for digital assets.
LG CNS Plans Chainlink Data and Cross-Chain Integration
LG CNS plans to integrate Chainlink’s cross-chain, data and orchestration infrastructure into its platform. The work is intended to help institutions use tokenized money and assets across different networks and computer systems.
The data tools can bring information such as exchange rates and fund valuations onto blockchains. Chainlink’s orchestration technology coordinates tasks across financial software, external data services and blockchain networks, allowing those components to work together in a transaction.
Hongkeun Kim, LG CNS executive vice president and head of its Digital Business Division, said:
“[…] we aim to accelerate the growth of Korea’s tokenized securities market by enabling secure interoperability and real-world data […]”
LG CNS Builds on KITL and Project Hangang
LG CNS launched KITL on Oct. 6 for banks, securities firms, card companies and payment providers. It also announced cooperation agreements with five blockchain companies, including Chainlink.
The Oct. 22 announcement outlines the planned cross-chain, data and orchestration work. It does not explain whether the companies’ contractual commitments have changed.
KITL provides digital wallets, transaction processing, transaction records and tools that let service providers cover customers’ blockchain fees. It connects institutions’ transaction requests with blockchain processing and collects records for accounting, settlement and audits.
The platform is designed to support stablecoins, tokenized securities and other tokenized assets across multiple blockchain networks. Institutions can use the same core infrastructure as they add services or networks.
LG CNS also serves as lead contractor for the Bank of Korea’s Project Hangang digital-currency initiative. The project’s first phase involved approximately 80,000 customers across seven Korean banks, providing the company with experience building and operating digital-payment infrastructure. The announcement does not specify a Chainlink role in Project Hangang.
The companies have not named a first customer for the Chainlink integration, identified an initial production transaction or set a commercial launch date.
