OCBC is popping to blockchain with a US$1 billion digital US business paper (USCP) programme, giving the financial institution the power to lift short-term US greenback funding in minutes.
The transfer displays efforts to strengthen liquidity resilience as world markets face rising geopolitical and macroeconomic uncertainty.
The programme enhances OCBC’s present US$25 billion typical USCP programme, established in August 2011.
Issuance, settlement, record-keeping and servicing are performed on-chain, making OCBC the primary USCP issuer globally to make use of blockchain throughout the securities’ full lifecycle.
Close to-instant settlement is enabled by having tokenised securities and funds on-chain.
The setup supplies all events with the identical real-time, auditable information and reduces reliance on conventional infrastructure and intermediaries.
J.P. Morgan’s Digital Debt Service software, constructed on its multi-asset tokenisation platform, Kinexys Digital Property, facilitates the programme. J.P. Morgan can also be performing as sole seller.
The primary USCP tokenised issuance below the programme was accomplished on 20 August 2025.
OCBC issued six-month notes to an accredited institutional investor and acquired the funds inside minutes of the transaction. Proceeds might be used for common funding functions.
The digital USCP programme has short-term credit score scores of P-1 from Moody’s and F1+ from Fitch, the best for such devices.
OCBC stated the programme supplies another channel to faucet the US$1.4 trillion USCP market to rapidly increase USD.
The launch follows OCBC’s adoption in 2024 of J.P. Morgan’s Digital Financing software for reverse repo and repo transactions, a part of broader efforts to strengthen liquidity administration.
Kenneth Lai, OCBC’s Head of World Markets, stated,
“Singapore’s blockchain ecosystem is advancing quick, and asset tokenisation is gaining actual momentum. Our focus is now firmly on commercialisation. We’ve already tapped blockchain for intraday repo and reverse repo transactions—capabilities added final 12 months—and are actually increasing into the USCP market to strengthen liquidity and resilience.
OCBC isn’t any stranger to this house, however our new digital USCP programme will deepen investor engagement and sharpen our world capital markets profile. The pace and transparency of this resolution have solely strengthened our conviction in blockchain’s transformative energy for capital markets.”
Scott Lucas, Head of Markets Digital Property at J.P. Morgan, stated,
“J.P Morgan’s Digital Debt Service supplies a further approach for issuers and traders to take part within the USCP market and OCBC’s issuance has demonstrated this in apply.
Our partnership with OCBC in help of creating each their entry to the US market and their digital agenda is aligned to our dedication of providing revolutionary liquidity options.”
Featured picture: Edited by Fintech Information Singapore, based mostly on picture by poppet07 through Freepik
