German industrial giant Siemens AG has collaborated with JPMorgan's blockchain-based payment system Onyx and SWIAT's private blockchain to issue and settle a tokenized version of its commercial paper. The issuance of €100,000 worth of crypto securities was done under the German Electronic Securities Act (eWpG) and was redeemed three days later. The payments were conducted on the Onyx network using the JPM Coin System, while asset transfers were settled on the SWIAT network's delivery-versus-payment (DvP) mechanism. The transaction took 93 seconds to complete, and the collaboration aims to develop asset issuance products on blockchain rails for commercial banks to increase transaction flexibility and speed. Tokenization of real-world assets has been a growing area for blockchain technology, with JPMorgan's Onyx and JPM Coin playing a prominent role in the space.



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