OCBC Bank Singapore has just launched a tokenized commercial paper platform worth 1 billion USD, considered the first in the world, according to The Business Times. This program marks an important step in integrating blockchain technology into the entire commercial paper process, from issuance, payment to management.
The platform operates on JPMorgan’s Kinexys Digital Assets system, helping OCBC access the $1.4 trillion U.S. commercial paper market and quickly raise USD through tokenization tools. On August 21, the bank successfully issued its first commercial paper with a maturity of 6 months, receiving funding in just a few minutes.
Moody’s and Fitch have assigned the highest credit ratings (P-1, F1+) for this program. OCBC’s move follows DBS, the bank that recently issued tokenized structured notes on Ethereum, indicating that Singapore is becoming a global digital asset hub.
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