JPMorgan и Galaxy Digital обосновали пилотный проект по токенизации облигаций на Solana Translation: JPMorgan and Galaxy Digital Establish a Pilot Project for Bond Tokenization on Solana

The banking powerhouse JPMorgan has launched tokenized commercial paper worth $50 million on the Solana network for Galaxy Digital, as reported by Bloomberg.

The securities were acquired by the cryptocurrency exchange Coinbase and asset management firm Franklin Templeton. Transactions were conducted using the USDC stablecoin from Circle. Payments upon maturity will also be made in this “stable coin.”

Scott Lucas, the head of the bank’s digital asset division, described the operation as a full-fledged pilot project.

“This is no longer just a theory. This allows us to witness firsthand the advantages of blockchain for bond issuance,” he noted.

According to Lucas, despite the bank’s familiarity with Ethereum, they intentionally chose Solana to explore a new environment. JPMorgan plans to continue issuing bonds on public blockchains.

Emma Lavette, the head of the bank’s credit division within the digital assets group, emphasized that tokenization fundamentally transforms post-trade processes:

“It provides accurate, compressed settlement timelines and radically simplifies transaction processing through a single registry for all counterparties.”

JPMorgan is increasing its activity in the blockchain space. In November, the bank launched a deposit token, JPMD, on the Layer 2 network Base, targeting institutional clients.

The firm is also working on a platform for interbank transfers of tokenized assets.

Galaxy continues to shift its financial operations on-chain. In September, the company tokenized its own GLXY shares on Solana in collaboration with Superstate.

Mike Novogratz’s firm is also one of the key investors in Forward Industries, the largest SOL treasury, which is exploring the potential of financial instruments on the blockchain.

According to Jason Urban, the global head of Galaxy’s trading division, the issuance of USCP serves as an example of the influence of public networks on capital markets.

“By structuring one of the first commercial paper issuances on the blockchain in the U.S., we are implementing our model: an open, programmable infrastructure designed for institutional financial instruments,” he explained.

It is noteworthy that Standard Chartered has projected the capitalization of the RWA segment to reach $2 trillion by 2028.