LG CNS launched a blockchain infrastructure platform called KITL (Keystone of Institutional Trust Landscape) that provides infrastructure needed to build digital asset services such as stablecoins, tokenised securities and real-world assets (RWA).

The company said KITL provides four functions needed for digital asset businesses: electronic wallets, transaction processing, fee payment on behalf of users and collection of transaction histories. The electronic wallet serves a role similar to a bank account. It is where customers store digital assets and make electronic signatures when sending assets.

Transaction processing tracks the status of transactions requested by financial institution systems until they are properly processed on the blockchain and delivers the result. Fee payment on behalf of users handles how service providers such as banks and card companies split and bear blockchain usage fees, known as gas fees, according to an agreed structure. History collection pulls only records related to the relevant financial institution from global public blockchain transaction records. For example, issuers use it to compare the total amount of stablecoins issued with dollar and won deposits, while stablecoin distributors use it for settlement, accounting and audit materials.

LG CNS also built a global partner ecosystem around KITL. It signed memorandums of understanding with five leading global blockchain companies across areas needed for digital asset businesses. It will work with USDC issuer Circle Internet Group, Inc., tokenised securities issuance and management platform company Securitize, global financial transaction blockchain foundation Canton Foundation, blockchain intelligence platform company Chainalysis, and Chainlink, which provides external data such as exchange rates and fund net asset values to blockchains and interconnects different blockchains.

Kim Hong-geun (김홍근), vice president and head of LG CNS's Digital Business Division, said, "We will provide, through KITL, infrastructure essential for digital asset businesses together with global partnerships, and support financial institutions so they can start services at the same time as the system is implemented."