The post JPMorgan Chooses Solana for Debt Deal and the Growing Role of Solana Wallets appeared on BitcoinEthereumNews.com.

JPMorgan recently announced that it has successfully issued a debt note on behalf of Galaxy Digital on the Solana blockchain. This is a landmark moment because it represents one of the first times that a public blockchain has been used in this way. JPMorgan has used blockchains in the past, however this was mainly private blockchains, such as its own Onyx blockchain. They also used Coinbase’s blockchain, Base, to create their own JPMD stablecoin but again this was for internal use. What is a Debt Note? A debt note is created when a company, in this case Galaxy Digital, is looking to raise money. The company promises to pay it back, usually with interest. JPMorgan acts as the middleman, laying out the structure of the debt note and finding an investor to lend the money needed. Investors are more comfortable when the middleman is a major bank, and JPMorgan already has the connections to big buyers which Galaxy Digital would struggle to reach on their own. Moreover, a debt note can be complex, having a middleman like JPMorgan with the experience and expertise to handle the documentation can make things easier. In this case, the debt note was purchased by Coinbase and Franklin Templeton, they are the investors. The money is then given to Galaxy Digital, who pay it back after time with interest, and JPMorgan passes it back to the investors (after taking their cut for their services). The money lent and to be repaid was USDC, the stablecoin issued by Circle. Custody of the debt note token USCP, including private key custody and wallet services, was handled by Coinbase. Why Did JPMorgan Choose Solana and not Ethereum? According to their press release, “Solana’s architecture makes it possible for firms like J.P. Morgan to arrange financial transactions with the…

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Filed under: News - @ December 14, 2025 11:27 pm