Siemens, Germany's largest electronics manufacturer, has reportedly issued and settled tokenized digital commercial paper using JP Morgan's blockchain subsidiary Onyx and blockchain from S.W.I.F.T., making it the first company to do so. On September 13, Siemens issued a 100,000 euro crypto security under German electronic securities law (eWpG) and redeemed it three days later. The settlement was processed on the Onyx network using the JPM Coin system, while the asset transfer was settled on S.W.I.F.T.’s network using its Delivery-versus-Payment (DVP) mechanism, according to Coindesk. This move marks a significant step towards the adoption of blockchain technology in the financial sector, as it demonstrates the feasibility of using digital assets for commercial transactions.