AsianFin -- Singapore's Oversea-Chinese Banking Corporation (OCBC), the country's second-largest bank, announced on Monday, the launch of a $1 billion digital US commercial paper (USCP) programme based in Singapore.

The programme uses blockchain technology to digitize the issuance and management of US commercial paper, aiming to improve operational efficiency, reduce costs, and enhance transparency for investors and issuers.

OCBC's digital USCP programme represents a significant step in leveraging distributed ledger technology for capital markets, allowing faster settlement times and streamlined processes compared to traditional paper-based systems.

The initiative was officially kicked off in Singapore, where OCBC is headquartered, marking the bank's commitment to innovation in financial services and digital transformation.

The bank stated that the digital USCP programme will facilitate easier access to short-term funding for corporate clients and institutional investors, supporting liquidity management and capital raising activities.

According to OCBC, the blockchain-based platform ensures secure, immutable records of transactions, which helps mitigate risks associated with fraud and errors in commercial paper issuance.

The launch was reported by multiple sources including Reuters and Channel News Asia on August 25, 2025, confirming the programme's establishment and operational readiness.

This development aligns with broader industry trends toward digitization and adoption of blockchain technology in financial markets globally.