JPMorgan Launches Galaxy's Tokenized Bond on Solana, Marking a First in the Industry

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 2d ago

JPMorgan's Tokenized Commercial Paper: JPMorgan has issued a tokenized commercial paper for Galaxy Digital on the Solana network, marking a significant step in institutional adoption of on-chain debt instruments, with all transactions settled in USDC.
Institutional Interest in Solana: The issuance highlights growing institutional interest in Solana's infrastructure, as firms like Coinbase and Franklin Templeton participate, indicating a shift towards utilizing public blockchains for financial products.
Innovative Financial Tools: The USCP token represents a new funding avenue and demonstrates how public chains can support programmable financial products, with Galaxy Digital emphasizing the potential for blockchain-based money market tools.
Global Trends in On-Chain Debt: The move aligns with a broader trend of banks exploring on-chain bonds and commercial paper across various regions, as demand for digital asset exposure continues to rise among institutions.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

JPMorgan Launches Galaxy's Tokenized Bond on Solana, Marking a First in the Industry

About the author

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