đ Big News in Blockchain! đ
German industrial giant Siemens AG has made waves by issuing and settling a tokenized version of its commercial paper using JPMorgan's blockchain-based payment system, Onyx, and SWIAT's private blockchain. The âŹ100,000 worth of crypto securities were issued under the German Electronic Securities Act and settled in just 93 seconds!
Key Points:
- Siemens issued âŹ100,000 in crypto securities, settled in 93 seconds.
- Payments conducted on Onyx network using JPM Coin System.
- Asset transfers settled on SWIAT's DvP mechanism.
- DekaBank acted as a regulated crypto securities registrar.
This collaboration marks the beginning of Onyx and SWIAT's efforts to develop scalable blockchain solutions for commercial banks. JPMorgan's Onyx has already seen transaction volumes in the billions, highlighting the growing adoption of blockchain in traditional finance.
What do you think about the tokenization of real-world assets? Share your thoughts in the comments! đŹ