LG CNS launches KITL blockchain infrastructure platform

LG CNS said on the 6th that it had launched KITL, a blockchain infrastructure platform.

KITL provides infrastructure needed by banks, securities firms, card companies, payment companies and others to build digital asset services. These include services for stablecoins, security tokens (STO) and real-world assets (RWA).

It provides four functions: digital wallets, transaction processing, fee sponsorship and transaction record collection. Financial institutions have recorded and managed customer transactions in their own systems, whereas digital assets are traded on public blockchains that anyone can participate in. In this structure, customer assets move outside financial institutions' control.

A digital wallet serves a role similar to a bank account, storing digital assets and enabling electronic signatures when assets are sent. LG CNS uses a method that generates a private key only when a signature is needed and then discards it, rather than storing the key. This method can support wallet issuance to tens of millions of customers without adding equipment, and the company has completed patent registration for it.

KITL's digital wallet extends technology applied in the Bank of Korea's digital currency trial, Project Hangang, from private blockchains to public blockchains. In Project Hangang, the technology completed validation in an environment where seven participating banks and about 80,000 customers carried out actual payments at convenience stores, supermarkets and other locations.

The transaction processing function tracks the blockchain processing status of transactions requested by financial institutions' systems and returns the results. The fee sponsorship function allocates blockchain usage fees, known as gas fees, among service providers such as banks and card companies according to an agreed structure. The transaction record collection function retrieves only transactions related to the relevant financial institution from public blockchain records worldwide.

KITL is designed to let multiple assets and blockchain networks share the four functions. Financial institutions can use their existing infrastructure when expanding the range of digital assets they handle or adding networks such as Solana alongside Ethereum.