TechFlow, Dec 12 — According to Bloomberg, JPMorgan arranged the creation, distribution, and settlement of short-term bonds on the Solana blockchain for Galaxy Digital Holdings LP, part of efforts to leverage underlying cryptocurrency technology to improve financial market efficiency.
The $50 million U.S. commercial paper was purchased by cryptocurrency exchange Coinbase Global Inc. and asset management firm Franklin Templeton, using USDC stablecoin issued by Circle Internet Group Inc. as payment. Redemption payments upon maturity will also be made in USDC.
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