Siemens successfully issued and settled a tokenized version of its commercial paper worth €100,000 using JPMorgan's Onyx blockchain and SWIAT's private blockchain.
The whole process of issuing and settling Siemens' tokenized commercial paper took only 93 seconds, showcasing the efficiency of blockchain in financial transactions.
JPMorgan, through its Onyx platform, has seen a surge in transactions, with volumes reaching billions of U.S. dollars daily, reflecting the fast adoption of blockchain tech.
The collaboration between Onyx and SWIAT seeks to enhance transaction flexibility and speed, making blockchain-based financial transactions scalable for commercial banks.
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