Rabobank conducts $2 billion worth of commercial paper transactions on the blockchain

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By David Brooks

Rabobank has completed a series of pilot projects to conduct commercial paper transactions worth more than 2 billion euros on the Ubermorgen blockchain platform.

The platform provides financial market participants with instant access to funds through the automated issuance of commercial papers and certificates of deposit.

For the trial run, Rabobank Markets and Ubermorgen worked with Rabobank Treasury, TreasurySpring and two major asset managers and executed multiple commercial paper and term deposits in EUR, USD and GBP with a total face value of over two billion.

Henry Adams, Chief Product Officer at TreasurySpring, comments: “The transition to T0 and instant settlement represents a significant milestone in the evolution of capital markets while reducing credit risk in the financial system.” Particularly for several regulated sectors within our customer base where the While number of days is critical, there is immediate value that we would like to capture on their behalf.”

The pilot also integrated analytical tools that provided market participants with real-time insights into money market trends.

Jacek Wieclawski, Head of Innovation at Rabobank, says: “The hybrid approach, global and instant interoperability is the future of finance.” Our customers have shared their excitement about this new solution that combines the best of both worlds – speed and flexibility a distributed ledger technology and the reliability and compliance of a centralized system.”

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