Guggenheim Treasury Services released its first $20 million issue of tokenized commercial paper on the Ethereum blockchain.
Guggenheim Treasury Services (GTS), a subsidiary of Guggenheim Capital, LLC. one of the largest global financial corporations, issued its first Digital Commercial Paper (DCP). The assets were issued on the Ethereum blockchain, with a total value of $20 million in tokenized securities. According to a press release, the product received the highest credit rating (P-1) from Moody’s.
GTS operates one of the biggest independent asset-backed commercial paper (ABCP) platforms. The company issued and repurchased more than $10.3 trillion in commercial paper over its 27-year history.
Commercial paper is a short-term, unsecured debt instrument traditionally used by companies to cover short-term liabilities.
The DCP issuance was done through AmpFi.Digital, a blockchain platform developed by Zeconomy to issue, trade, and manage digital assets. The platform allows DCPs to be used similarly to traditional securities in the OTC markets, but with the possibility of splitting and with accelerated settlement.
In early 2024, the market volume for tokenized government securities surpassed $1 billion for the first time, and by the end of the year, it could reach $3 billion. Meanwhile, the global market for tokenized real-world assets (RWA) grew to $12 billion in September this year.
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