Guggenheim Partners Issues $20M in Tokenized Commercial Paper on Ethereum Blockchain

COINOTAG news, September 26, per CoinDesk, financial services behemoth Guggenheim Partners’ subsidiary, Guggenheim Treasury Services, has successfully issued $20 million in tokenized commercial paper on Ethereum’s blockchain via the platform Zeconomy. A Guggenheim spokesperson verified the transaction, offering no additional commentary. This follows closely behind a similar initiative by German conglomerate Siemens AG, which recently issued digital commercial paper leveraging JPMorgan Chase’s Onyx and the blockchain platform SWIAT.

Tokenization of traditional financial instruments, particularly real-world assets (RWA), is rapidly gaining traction within the crypto industry, especially among traditional finance (TradFi) entities. Data from research firm RWA.XYZ indicates this market’s value has surged to $12 billion, comprising $2 billion in tokenized U.S. government bonds. This marks a pivotal new direction for Guggenheim, managing assets up to $300 billion, who have a noted history of engaging with the cryptocurrency sector.