OCBC Launches $1 Billion Blockchain-Based US Commercial Paper

According to Foresight News, Singapore's OCBC Bank has issued $1 billion worth of blockchain-based digital U.S. commercial paper (USCP). These six-month notes utilize tokenized securities and on-chain funds, with records and services maintained on the blockchain. The initial issuance has been completed, with the investor being a qualified investment institution. OCBC has not disclosed the name of the investor but confirmed that JPMorgan is the exclusive dealer for this $1 billion blockchain digital USCP.