JPMorgan just crossed a dangerous line with Solana that major banks have strictly avoided until now
JPMorgan recently issued $50 million in US commercial paper for Galaxy Digital on Solana, with Coinbase and Franklin Templeton as buyers. The bank created an on-chain USCP token, settling both issuance and redemption cash flows in USDC rather than bank wires. Both issuance and servicing of the deal ran entirely on blockchain rails. As a …
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