Platform offers 4 core functions including e-wallet and transaction processing

Bank of Korea's 'Project Han River' used to verify real-transaction technology

MOU signed with 5 global blockchain firms including Circle

An overview of the key functions of LG CNS's digital asset blockchain infrastructure platform [LG CNS]
An overview of the key functions of LG CNS's digital asset blockchain infrastructure platform [LG CNS]

LG CNS has launched a blockchain infrastructure platform called Gittle to support digital asset services in the financial sector. The platform consolidates the core functions needed to build such services — from electronic wallets and transaction processing to gas fee coverage — into a single offering.

LG CNS announced the launch of Gittle on Tuesday. The platform provides the infrastructure that banks, securities firms, card companies and payment processors need when building digital asset services involving stablecoins, security token offerings and real-world assets.

Gittle covers four essential functions for digital asset operations: electronic wallets, transaction processing, gas fee coverage and transaction history collection.

LG CNS said a defining characteristic of digital asset services is that assets move across public blockchains that financial institutions cannot directly control. The four functions address this by providing the infrastructure needed to store assets, process transactions and maintain records.

The electronic wallet functions like a bank account — a space where customers store digital assets and apply digital signatures when sending them. LG CNS said the platform can issue wallets to tens of millions of customers by generating and discarding private keys only at the moment a signature is required.

LG CNS said the wallet technology extended work done for the Bank of Korea's CBDC pilot, Project Han River, to public blockchains. The technology was verified in a live environment in which seven participating banks and roughly 80,000 customers completed actual payments at convenience stores, supermarkets and other retail locations.

The transaction processing function tracks the status of transactions requested by financial institution systems until they are settled on the blockchain and delivers the results. The gas fee coverage function distributes blockchain usage fees among service providers according to agreed-upon arrangements. The transaction history collection function retrieves only the records relevant to a given financial institution from public blockchains worldwide.

LG CNS also highlighted scalability as a key strength of Gittle. Financial institutions are accelerating preparations for blockchain-based digital asset services as discussions on enacting a basic digital asset law gain momentum. With that in mind, the four core functions were designed to work across multiple asset types and multiple blockchain networks. Financial institutions can expand into new digital assets or add blockchain networks beyond Ethereum — such as Solana — while continuing to use the existing infrastructure.

LG CNS has also built a global partner ecosystem around Gittle, signing MOUs with five leading blockchain companies covering different areas of digital asset services. The partners are Circle, a leading internet finance platform and issuer of the stablecoin USDC; Securitize, a platform for issuing and managing security token offerings; Canton Foundation, a global financial transaction blockchain foundation; Chainalysis, a blockchain intelligence platform; and Chainlink, a company that supplies external data such as exchange rates and fund net asset values to blockchains and interconnects different blockchain networks.

"We will provide financial institutions with both the infrastructure and global partnerships they need for digital asset services through Gittle, so they can launch services the moment regulations take effect," said Kim Hong-geun, head of LG CNS's Digital Business Division.


chami@heraldcorp.com