The post JPMorgan Solana On-Chain Commercial Paper With Galaxy appeared on BitcoinEthereumNews.com.

In a move watched closely across Wall Street and crypto, JPMorgan Solana collaboration on a commercial debt deal is pushing public blockchains deeper into mainstream finance. JPMorgan brings US commercial paper onto Solana In a press release dated December 11, JPMorgan disclosed that it had arranged a US Commercial Paper (USCP) issuance for Galaxy Digital Holdings LP, an affiliate of Galaxy Inc., on the Solana blockchain. The transaction counts among the earliest US commercial paper offerings executed on a public network. In this structure, JPMorgan acted as arranger, creating the on-chain USCP token and overseeing delivery-versus-payment settlement for the deal. Moreover, the bank handled the on-chain lifecycle of the instrument, aligning traditional processes with blockchain rails. Meanwhile, Galaxy Digital Partners LLC structured the offering, while Coinbase Global Inc. and global investment manager Franklin Templeton purchased the issuance. This collaborative configuration linked multiple major institutions to the same public blockchain transaction, signaling growing comfort with tokenized debt. According to the press statement, the USCP token is the first commercial paper offering from Galaxy. That said, the deal also enhances Galaxy’s short-term funding flexibility and connects the firm to a broader institutional investor base seeking blockchain-based money-market instruments. Notably, both the issuance proceeds and redemption payments will be made in USDC stablecoins issued by Circle. However, this is described as a first for the US commercial paper market, where cash settlement traditionally relies on bank transfers rather than tokenized dollars. Institutional demand and the future of tokenized markets Scott Lucas, Head of Markets Digital Assets at JPMorgan, said the commercial debt transaction showcases institutional demand for digital assets and the broader potential of blockchain technology in capital markets. He stressed that the bank, as a user-focused institution, aims to meet evolving client appetite for digital asset exposure. Lucas indicated that this structure…

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Filed under: News - @ December 12, 2025 7:24 pm