LG CNS Launches KITL, a Digital Asset Blockchain Infrastructure Platform

[Financial News] LG CNS said on the 6th that it had launched KITL (Keystone of Institutional Trust Landscape), a blockchain infrastructure platform.
KITL provides the infrastructure banks, securities firms, card issuers and payment service providers need to build digital asset services involving stablecoins, security tokens (STOs) and real-world assets (RWAs).
KITL provides four essential functions for digital asset businesses: digital wallets, transaction processing, fee payment on behalf of users and transaction record collection. Financial institutions have traditionally recorded and managed customers’ transaction histories on their own systems. Digital asset transactions, however, take place on public blockchains that anyone can access, meaning customer assets move through areas beyond the control of financial institutions.
A digital wallet serves a role similar to a bank account. It is where customers store digital assets and generate electronic signatures when sending them. LG CNS can issue wallets to tens of millions of customers without adding equipment by storing no private keys and generating them only when a signature is needed before discarding them. The company has completed patent registration for this method.
KITL’s digital wallet technology expands the technology applied to the Bank of Korea’s (BOK) central bank digital currency pilot, Project Han-gang, from private blockchains to public blockchains as well. It was validated in an environment where seven participating banks and approximately 80,000 customers completed actual payments at convenience stores and supermarkets.
Transaction processing tracks the status of transactions requested through a financial institution’s system until they are successfully processed on the blockchain and delivers the results. Fee payment on behalf of users handles the distribution of gas fees, the charges for using a blockchain, among service providers such as banks and card issuers according to an agreed structure. Transaction record collection retrieves only records related to the relevant financial institution from transaction histories on public blockchains worldwide.
KITL is also designed so that its four essential functions can be shared across multiple assets and blockchain networks. Financial institutions can continue using their existing infrastructure when expanding into multiple digital assets or adding blockchain networks such as Solana alongside Ethereum.
LG CNS has also built a global partner ecosystem around KITL. It is collaborating with Circle (Circle Internet Group), a leading internet finance platform and issuer of the stablecoin USD Coin (USDC); Securitize, a platform company for issuing and managing security tokens; Canton Foundation, a blockchain foundation for global financial transactions; Chainalysis, a blockchain intelligence platform company; and Chainlink, a company that provides external data such as exchange rates and fund net asset values to blockchains and connects different blockchains.
LG CNS and Circle will cooperate to develop digital asset infrastructure and solutions suited to Korea’s technology and regulatory environment. With Securitize, LG CNS will jointly develop solutions to tokenize funds and bonds held by financial institutions in compliance with domestic regulations. With Canton Foundation, it will build infrastructure that enables Korean financial institutions to participate in the Canton Network. With Chainalysis, LG CNS will work to help financial institutions detect and block crime-related funds from entering wallets. With Chainlink, it will pursue the integration of KITL with Chainlink’s services.

[email protected] Yeon Ji-an Reporter