Yesterday Bayerische Landesbank (BayernLB) issued a €100 million tokenized commercial paper on the SWIAT blockchain, with settlement in central bank money via the Eurosystem’s Pontes platform.
“In the traditional, analog world, the trading and settlement of commercial papers were separated by at least one day,” said André Haag, CFO and member of the Board of Management at BayernLB. “Now, we can ensure the transfer of ownership and the flow of payment within just a few minutes. This is a genuine milestone, especially for short-term refinancing transactions, where every day counts.”
With similar benefits in mind, the Banque de France and Euroclear are working on Project Pythagore to use Pontes for settlement of tokenized NEU commercial paper (NEU CP) in central bank money.
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