TechFlow news — On September 24, according to Coindesk, German industrial giant Siemens AG has successfully issued and settled tokenized commercial paper using JPMorgan's blockchain payment system Onyx and SWIAT's private blockchain.
On September 13, Siemens issued €100,000 worth of crypto securities under Germany’s Electronic Securities Act (eWpG), redeeming them three days later. The payment was settled via JPM Coin on the Onyx network, while asset transfer was completed using the "delivery versus payment" (DvP) mechanism on the SWIAT network. The entire process—from both parties confirming the transaction on SWIAT to final confirmation of asset and payment transfer—took just 93 seconds.
This transaction marks the beginning of collaboration between Onyx and SWIAT to develop blockchain-based asset issuance products for commercial banks. The two parties aim to shorten the value chain, enhance transaction flexibility and speed, and ultimately enable scalable use of blockchain-based financial transactions among commercial banks.
