Finance
What to know:
- J.P. Morgan arranged Galaxy Digital’s commercial paper issuance on Solana-because why not turn debt into a crypto flex? 🤷♂️
- Coinbase and Franklin Templeton bought the short-term debt instrument, settled in USDC. Because nothing says “trust” like stablecoins and institutional FOMO. 💰
- Tokenization of real-world assets is gaining traction, with projections suggesting the market could reach $18.9 trillion by 2033. Spoiler: we’ll all be broke by then. 😂
Global bank J.P. Morgan has arranged a landmark commercial paper issuance on the Solana blockchain-a move that’s less “revolutionary” and more “look at me, I’m using blockchain now.” 🌐
Commercial paper, typically issued through legacy systems (i.e., systems as exciting as watching paint dry), is a short-term debt tool. This one was structured onchain and settled using USDC. Because why use dollars when you can use digital ones? 🤖
J.P. Morgan created the onchain token representing the debt and handled the settlement. Galaxy’s investment banking arm structured the issuance. Coinbase acted both as investor and wallet provider-because they’re basically the Uber of crypto now. 🚗 Franklin Templeton, which has already created a tokenized money market fund, also invested in the token. Because why not? It’s just money, right? 😏
The move underscores the rising institutional interest to use blockchain plumbing for traditional financial instruments. Tokenization of real-world assets (RWA) promises efficiency gains and faster settlement-or at least faster headlines. BCG and Ripple project the tokenized asset market could mushroom to $18.9 trillion by 2033. We’ll believe it when we see it… and a functional wallet. 🤞
The trend has also gained support from U.S. regulators. SEC Chairman Paul Atkins has recently touted tokenization as a key innovation for capital markets. Because nothing says “regulatory blessing” like a man in a suit saying “innovation” in a FOX Business interview. 🎤
The issuance was the latest example of J.P. Morgan’s push into blockchain and tokenized assets. The bank has been an early mover, developing JPM Coin in 2019 and launching its blockchain unit, Onyx, in 2020. Now integrated under Kinexys, the division has done blockchain-based repo trades and cross-border payments. Because nothing says “trust” like a name change and a logo redesign. 🎨
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2025-12-11 23:07