Rabobank has successfully conducted a series of pilots to execute over €2 billion in commercial paper transactions on the blockchain platform Ubermorgen. This innovative platform enables financial market participants to gain immediate access to funds through the automated issuance of commercial paper and certificates of deposit.
In collaboration with Rabobank Treasury, TreasurySpring, and two major asset managers, Rabobank Markets completed multiple transactions involving commercial paper and time deposits in EUR, USD, and GBP, with a total notional exceeding two billion euros.
Henry Adams, chief product officer at TreasurySpring, commented, “The shift to T0 and instantaneous settlement marks a significant milestone in the evolution of capital markets, helping to reduce credit risk in the financial system. This is particularly valuable for several regulated sectors within our client base, where the precision of day count is essential.”
Additionally, the pilot incorporated analytics tools that furnish market participants with real-time insights into money market trends.
Jacek Wieclawski, head of innovation at Rabobank, stated, “Our hybrid approach, which combines global reach with instant interoperability, represents the future of finance. Our clients have expressed their enthusiasm for this new solution, which successfully merges the speed and flexibility of distributed ledger technology with the reliability and compliance of a centralized system.”