JPMorgan Chase Unit Facilitates Galaxy Digital Debt Issuance Over Solana Blockchain
By Elias Schisgall
J.P. Morgan facilitated a U.S. Commercial Paper issuance for Galaxy Digital on the blockchain platform Solana, with notes purchased by Coinbase Global and Franklin Templeton.
The bank, a unit of JPMorgan Chase, said its transaction for Galaxy, a crytocurrency-focused financial-services firm, was one of the earliest debt issuances to be executed on a public blockchain. It added that the issuance sets a precedent for institutional investors looking to build blockchain-based securities into their portfolios.
"Today's transaction is an important step toward understanding the role blockchain will play in the future of financial markets," Scott Lucas, who leads J.P. Morgan's digital-assets-markets arm, said. "This trade demonstrates institutional appetite for digital assets and our capability to securely bring new instruments on-chain using Solana," he added.
J.P. Morgan created the on-chain token and managed the delivery and payment for the transaction. It said the issuance and redemption proceeds would be paid in USDC stablecoins issued by Circle.
The bank didn't disclose the size of the transaction.
Write to Elias Schisgall at elias.schisgall@wsj.com
(END) Dow Jones Newswires
December 11, 2025 12:21 ET (17:21 GMT)
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