OCBC Pioneers Digital Finance with $1 Billion Blockchain-Powered US Commercial Paper Programme

Singapore's second-largest bank, OCBC, has established a $1 billion digital U.S. commercial paper program to strengthen its dollar funding capabilities. This initiative leverages blockchain to access the deep and liquid $1.4 trillion U.S. commercial paper market, providing a cost-effective source of short-term cash. The program complements OCBC's existing $25 billion conventional program from 2011 and offers near-instantaneous settlement, with funds received within minutes. The entire lifecycle of the security, including record-keeping and servicing, is on-chain, making OCBC the first U.S. commercial paper issuer to use blockchain across the security's full lifecycle. J.P. Morgan’s Digital Debt Service application acts as the sole dealer. The first tokenized issuance occurred on August 20, 2025, and the funds will be used for general funding purposes. OCBC's head of global markets, Kenneth Lai, noted that Singapore's blockchain ecosystem is advancing and the bank is focusing on commercialization.

OCBC is also enhancing its workforce through a new coaching initiative. The bank partnered with the International Coaching Federation Singapore to train more than 100 senior leaders to achieve the International Coaching Federation Associate Certified Coach (ICF-ACC) accreditation by the close of 2027. This effort, which began in September 2023 with over 50 senior leaders, is a strategic move to build an adaptable workforce amid changing technology and economic uncertainties.