TechFlow news, on August 22, State Street Corporation (NYSE: STT) announced today that it has become the first third-party custodian to connect to J.P. Morgan's Digital Debt Services, marking a significant milestone in institutional adoption of blockchain-based debt securities. Through this strategic partnership, State Street can now offer clients custody services for debt securities issued, settled, and managed using blockchain technology.
The first transaction involved a $100 million commercial paper deal executed by State Street's investment management division, demonstrating the platform's ability to support precise timing of settlements, including T+0 instant settlement options. This service is currently available only in the United States.
