JPMorgan Chase issues Galaxy short-term bonds on Solana network
JPMorgan arranged and created, distributed, and settled a short-term bond on the Solana blockchain for Galaxy Digital Holdings LP, as part of efforts to enhance financial market efficiency using underlying cryptocurrency technology.
The $50 million US commercial paper was purchased by Coinbase and asset management company Franklin Templeton, with payment made in USDC stablecoins issued by Circle Internet Group Inc., according to a statement from the companies on Thursday. The redemption payment upon the maturity of the notes will also be made in USDC.
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