Guggenheim Treasury Services, a unit of Wall Street giant Guggenheim Capital, has entered the blockchain space and issued $20 million worth of tokenized commercial paper on the Ethereum blockchain .
Guggenheim Treasury Services is one of the largest platforms in asset-based commercial promissory note (ABCP) management. It has issued and redeemed more than $10.3 trillion in ABCP over the past 27 years, according to company data.
According to reports, this product is the first digital version of commercial paper and has received the highest credit rating of P-1 from Moody’s. Commercial paper is a short-term, unsecured debt instrument used by companies to pay short-term obligations.
The offering was accomplished through Zeconomy’s AmpFi.Digital platform, a blockchain protocol that provides trading and governance for tokenized securities.
Once issued, these digital commercial papers will be traded on an on-chain platform, similar to how traditional commercial paper is traded in the over-the-counter market – in divisible form and with faster settlement. Zeconomy CEO Giacinto Cosenza said in a statement.
“It’s clear from the approval of ETFs and the growth in the tokenization space that there is huge demand for these digital assets,”
According to 21Shares on Dune Analytics, assets under management in tokenized government securities have grown to $1.9 billion over the past few years. Asset management firm BlackRock currently holds the largest fund holding on-chain securities assets, with over $522 million in tokenized securities as of this writing.
A recent report from decentralized oracle provider Chainlink predicts that the global market for tokenized assets could surge to $10 trillion by 2030, driven by institutional adoption, blockchain integration, and regulatory progress.
According to the report, the current total value of global tokenized assets is approximately $118.57 billion, with the Ethereum network accounting for 58% of all tokenized assets.
An increasing number of players are exploring use cases for tokenization. The Depository Trust & Clearing Corporation (DTCC) recently completed its U.S. Treasury Guarantee Network pilot project. The project convened 26 market participants and conducted 100 transactions on the Canton Network using "digital twins of Treasury bonds (USTs)".
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