ChainCatcher reported that according to Coindesk, German industrial giant Siemens AG successfully issued and settled tokenized commercial paper through JPMorgan's blockchain payment system Onyx and SWIAT's private blockchain.

On September 13, Siemens issued 100,000 euros worth of crypto securities in accordance with the German Electronic Securities Act (eWpG) and redeemed them three days later. The payment was completed through the JPM Coin system of the Onyx network, and the asset transfer was settled on the "Delivery vs. Payment" (DvP) mechanism of the SWIAT network. The entire process took only 93 seconds from the confirmation of the transaction by both parties on SWIAT to the final confirmation of the asset and payment transfer.

The transaction marks the beginning of Onyx and SWIAT's cooperation to develop blockchain-based asset issuance products for commercial banks. The two parties aim to shorten the value chain, improve transaction flexibility and speed, and ultimately promote the large-scale application of blockchain-based financial transactions in commercial banks.