JPMorgan Pushes Deeper Into Tokenization With Galaxy's Debt Issuance on Solana
JPMorgan arranged a landmark commercial paper issuance on the Solana blockchain, settling the tokenized debt in USDC.Summary
JPMorgan has furthered its involvement in real-world asset (RWA) tokenization by arranging a commercial paper issuance for Galaxy on the Solana blockchain. Commercial paper, a short-term debt tool, was structured on-chain and settled using USDC stablecoin. Galaxy’s investment banking arm structured the deal, while Coinbase acted as both an investor and wallet provider, with Franklin Templeton also participating as an investor. This transaction highlights growing institutional interest in using public blockchain infrastructure for traditional financial instruments, which proponents claim offers efficiency and faster settlement. This move aligns with JPMorgan's ongoing commitment to blockchain technology, evidenced by its earlier development of JPM Coin and the Onyx division.
(Source：CoinDesk)