J.P. Morgan issues $50 million tokenized U.S. commercial paper on Solana, settled in USDC
J.P. Morgan has executed one of the first U.S. commercial paper issuances on a public blockchain, using the Solana network for the transaction. The bank structured the deal for Galaxy Digital Holdings LP, with both issuance and redemption settled in USDC. Coinbase and Franklin Templeton participated as buyers of the tokenized security on-chain, according to the bank.