Stablecoins and STO at Once... LG CNS Launches 'KITL' Infrastructure Platform

Four Core Functions:
Electronic Wallet, Transaction Processing,
Fee Proxy Payment, and Data Collection

LG CNS announced on the 6th that it will launch 'KITL,' a platform that provides integrated infrastructure necessary for building digital asset services such as stablecoins and token securities (STO).

KITL offers four core functions in the digital asset business: electronic wallet, transaction processing, fee proxy payment, and transaction data collection. In order to operate a digital asset business, infrastructure for asset custody, transaction processing, and records management is essential. KITL provides all these features.

LG CNS announced on the 6th that it will launch 'KITL,' a platform that provides integrated infrastructure necessary for building digital asset services such as stablecoins and token securities (STO). LG CNS

KITL from LG CNS issues electronic wallets without storing private keys; instead, it generates and uses a key only at the moment a signature is needed and then discards it. This enables the issuance of wallets to tens of millions of customers without expanding equipment, and LG CNS has completed patent registration for this approach. The electronic wallet in KITL extends the technology used in the Bank of Korea’s digital currency pilot project, 'Project Han-Gang.'

Transaction processing allows tracking of a transaction’s status from when it is requested in a financial institution’s system until it is successfully recorded on the blockchain, delivering the final result. Fee proxy payment is a function that divides the blockchain usage fee, or 'gas fee,' in accordance with the structure promised by the service provider. Transaction data collection retrieves only the transaction records relevant to the financial institution from global public blockchains.

KITL is designed so that its four essential functions can be used jointly across multiple digital assets and blockchain networks, allowing existing infrastructure to be utilized as is. Focusing on KITL, LG CNS has signed memorandums of understanding (MOUs) with five global blockchain companies—Circle, Securitize, Canton Foundation, Chainalysis, and Chainlink—and will cooperate with these companies.

Hongkeun Kim, Executive Vice President and Head of Digital Business Division at LG CNS, said, “By providing both indispensable infrastructure and global partnerships through KITL, we will support financial institutions so they can launch services as soon as new regulations take effect.”

This content was produced with the assistance of AI translation services.