On December 12, Bloomberg reported that JPMorgan Chase arranged for the creation, distribution and settlement of a short-term bond for Galaxy Digital Holdings LP on the Solana blockchain, as part of an effort to improve the efficiency of financial markets by leveraging the underlying technology of cryptocurrencies.
The $50 million U.S. commercial paper was purchased by Coinbase and asset management firm Franklin Templeton, paid for with USDC, a stablecoin issued by Circle Internet Group Inc., the companies said in a statement Thursday. Redemption proceeds upon maturity will also be paid in USDC.
