JP Morgan’s Onyx Blockchain Used for Siemens’ Digital Commercial Paper Settlement

Siemens issued €100,000 worth of crypto securities under the German Electronic Securities Act (eWpG) on September 13, then redeemed it 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.