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J.P. Morgan pioneers US Commercial Paper issuance on Solana via Coinbase Platform
Wall Street embraces blockchain as tokenized debt aims to streamline lending and settlement in traditional finance.
J.P. Morgan arranged a US commercial paper issuance for Galaxy on Solana today, marking one of the first debt securities issued on a public blockchain in the US.
The transaction utilized tokenization, USDC payment rails, and custody services powered by Coinbase’s Crypto-as-a-Service platform.
The move represents Wall Street’s application of blockchain technology in capital markets infrastructure. The arrangement could enable faster, cheaper, and more transparent debt issuance processes compared to traditional methods.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.