According to Bloomberg, JPMorgan arranged for Galaxy Digital to issue and settle a $50 million US commercial paper on Solana, with Coinbase and Franklin Templeton as buyers. Payments and maturity payments were completed using Circle's USDC. The transaction is seen as a test of tokenizing bonds for real-world funding scenarios, with JPMorgan stating that it helps verify the actual efficiency of on-chain issuance and settlement; the bank has recently chosen to pilot on Solana to accumulate multi-chain experience and plans to continue promoting more bond issuance on public chains.
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According to Bloomberg, JPMorgan arranged for Galaxy Digital to issue and settle a $50 million US commercial paper on Solana, with Coinbase and Franklin Templeton as buyers. Payments and maturity payments were completed using Circle's USDC. The transaction is seen as a test of tokenizing bonds for real-world funding scenarios, with JPMorgan stating that it helps verify the actual efficiency of on-chain issuance and settlement; the bank has recently chosen to pilot on Solana to accumulate multi-chain experience and plans to continue promoting more bond issuance on public chains.