LG CNS launched KITL on October 6 for banks, securities firms, card companies and payment providers working with stablecoins, tokenized securities and other tokenized assets.
The launch includes an MOU with the Canton Foundation to build infrastructure that would allow Korean financial institutions to participate in Canton Network. This is a plan to develop access infrastructure, not an announcement that a Korean bank has already gone live on Canton.
KITL brings together digital wallets, transaction processing, fee sponsorship and transaction-record collection. Its processing tools track a requested transaction through to its blockchain result. Fee sponsorship lets service providers share network charges under an agreed arrangement, while record collection gathers relevant transactions for settlement, accounting and audit.
Four other MOUs support the platform. Circle cooperation covers infrastructure suited to Korean technical and regulatory requirements. Securitize will work on fund and bond tokenization, Chainalysis on transaction monitoring, and Chainlink on combining its services with KITL.
The LG group release sets out each partnership. It names no Canton client, deployment date or Canton transaction volume.
Read the official KITL launch announcement for the platform's functions and cooperation plans.
