Summary
- JPMorgan said it arranged the issuance and settlement of $50,000,000 in commercial paper (CP) on the Solana (SOL) blockchain.
- Coinbase and Franklin Templeton participated as CP purchasers in the deal, and USD Coin (USDC) was used as the settlement currency.
- The collaboration between traditional financial institutions and crypto asset firms is seen as indicating the full-scale expansion of Solana-based on-chain capital markets.
On the 11th (local time), Bloomberg reported that JPMorgan arranged the issuance and settlement of Galaxy Digital's $50,000,000 U.S. commercial paper (CP) on the Solana (SOL) blockchain.
Coinbase and Franklin Templeton participated as CP purchasers in the deal, and the settlement currency used was USD Coin (USDC).
This case, in which traditional financial institutions and crypto asset companies jointly participated, is seen as an indicator that Solana-based on-chain capital markets are beginning to expand in earnest.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
![[Market Update] Bitcoin slides to the $68,000 range… "Macro caution persists despite upbeat CPI"](https://media.bloomingbit.io/PROD/news/7c356c31-7d95-4f87-9e5b-bf3ebab9c6d6.webp?w=250)
![[Analysis] "XRP enters a pullback after failing to hold $1.62… focus on whether it can break above $1.51"](https://media.bloomingbit.io/PROD/news/43b35985-b585-4ba4-8af7-82ef19948262.webp?w=250)
![[Today’s key economic & crypto calendar] Japan’s preliminary Q4 GDP, etc.](https://media.bloomingbit.io/static/news/brief_en.webp?w=250)