LG CNS Launches Blockchain Infrastructure 'KITL' for Financial Sector

LG CNS has launched a blockchain infrastructure platform called 'KITL' for banks, securities firms, and card companies. KITL provides common blockchain functionalities necessary for building digital asset services such as stablecoins, tokenized securities (STO), and real-world assets (RWA). The platform includes four main features: electronic wallet, transaction processing, fee payment, and transaction history collection. The electronic wallet handles electronic signatures when customers store and transfer their digital assets, allowing service to millions of customers by generating and discarding private keys as needed. The transaction processing feature handles transaction requests from financial systems on the blockchain and communicates the results. The fee payment feature supports covering gas fees incurred during transactions, while the transaction history collection feature selectively retrieves transactions related to financial institutions. LG CNS is collaborating with Circle, Securitize, Canton Foundation, Chainalysis, and Chainlink to advance the development of digital asset infrastructure and solutions. Vice President Kim Hong-geun stated that they will support financial institutions to start services simultaneously with the implementation of regulations.

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