According to BlockBeats, on September 26, CoinDesk reported that Guggenheim Treasury Services, a subsidiary of financial services giant Guggenheim Partners, has issued $20 million in tokenized commercial paper on the Ethereum blockchain through the blockchain platform Zeconomy. A spokesperson for Guggenheim confirmed the transaction but did not comment further.
A few weeks ago, German industrial giant Siemens AG issued digital commercial paper through JPMorgan’s Onyx and blockchain platform SWIAT. The tokenization of traditional financial instruments, known as real-world assets (RWA), has become one of the hottest areas in the crypto space that TradFi has recently ventured into. According to research firm RWA.XYZ, the market has grown to a market value of $12 billion, including $2 billion in tokenized U.S. government bonds. RWA is a new direction for Guggenheim, which has a whopping $300 billion in assets under management (AUM), and the global investment firm has previously been involved in the cryptocurrency ecosystem.
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