The post State Street issues $100M digital debt securities on JPMorgan’s proprietary blockchain appeared on BitcoinEthereumNews.com. State Street launched its first digital debt securities using JPMorgan’s Digital Debt Service, executing a $100 million commercial paper transaction. According to an Aug. 21 statement, State Street Investment Management purchased the commercial paper for its Short Term Investment Fund.  The debt securities are issued, settled, and serviced using blockchain technology, delivering streamlined institutional market access. State Street Investment Management’s global head of cash management, Pia McCusker, described the commercial paper investment as demonstrating tangible technology benefits for institutional clients. McCusker added: “Our successful investment in the first commercial paper transaction in blockchain format for our Short Term Investment Fund demonstrates the tangible benefits this technology brings to our clients and positions them at the forefront of the digital transformation in fixed income markets.” Regarding JPMorgan’s blockchain platform, it allows T+0 settlement as an option, representing a significant advancement over standard settlement cycles for short-term debt instruments. The digital debt securities utilize smart contracts to automate payments, redemptions, and corporate actions, eliminating manual processing typical in traditional debt markets.  State Street noted that the $100 million transaction validates blockchain technology’s capacity to handle institutional-scale debt issuances. At the same time, it maintains regulatory compliance and security standards expected from traditional debt markets. Market modernization impact Chief product officer Donna Milrod characterized the digital debt launch as advancing State Street’s integrated blockchain-based solution across front-, middle-, and back-office functions.  Further, the launch reflects State Street’s digital strategy, incorporating on-chain wallet management and blockchain network interoperability groundwork. JPMorgan Markets Digital Assets Team credit lead Emma Lovett described the digital debt platform as a significant advancement in digital issuance evolution. It provides clients with opportunities to explore blockchain applications in capital markets for efficiency improvements. The technology unlocks ecosystem-wide efficiencies across bond lifecycles. The digital debt launch follows February reports that State Street… The post State Street issues $100M digital debt securities on JPMorgan’s proprietary blockchain appeared on BitcoinEthereumNews.com. State Street launched its first digital debt securities using JPMorgan’s Digital Debt Service, executing a $100 million commercial paper transaction. According to an Aug. 21 statement, State Street Investment Management purchased the commercial paper for its Short Term Investment Fund.  The debt securities are issued, settled, and serviced using blockchain technology, delivering streamlined institutional market access. State Street Investment Management’s global head of cash management, Pia McCusker, described the commercial paper investment as demonstrating tangible technology benefits for institutional clients. McCusker added: “Our successful investment in the first commercial paper transaction in blockchain format for our Short Term Investment Fund demonstrates the tangible benefits this technology brings to our clients and positions them at the forefront of the digital transformation in fixed income markets.” Regarding JPMorgan’s blockchain platform, it allows T+0 settlement as an option, representing a significant advancement over standard settlement cycles for short-term debt instruments. The digital debt securities utilize smart contracts to automate payments, redemptions, and corporate actions, eliminating manual processing typical in traditional debt markets.  State Street noted that the $100 million transaction validates blockchain technology’s capacity to handle institutional-scale debt issuances. At the same time, it maintains regulatory compliance and security standards expected from traditional debt markets. Market modernization impact Chief product officer Donna Milrod characterized the digital debt launch as advancing State Street’s integrated blockchain-based solution across front-, middle-, and back-office functions.  Further, the launch reflects State Street’s digital strategy, incorporating on-chain wallet management and blockchain network interoperability groundwork. JPMorgan Markets Digital Assets Team credit lead Emma Lovett described the digital debt platform as a significant advancement in digital issuance evolution. It provides clients with opportunities to explore blockchain applications in capital markets for efficiency improvements. The technology unlocks ecosystem-wide efficiencies across bond lifecycles. The digital debt launch follows February reports that State Street…

State Street issues $100M digital debt securities on JPMorgan’s proprietary blockchain

State Street launched its first digital debt securities using JPMorgan’s Digital Debt Service, executing a $100 million commercial paper transaction.

According to an Aug. 21 statement, State Street Investment Management purchased the commercial paper for its Short Term Investment Fund. 

The debt securities are issued, settled, and serviced using blockchain technology, delivering streamlined institutional market access.

State Street Investment Management’s global head of cash management, Pia McCusker, described the commercial paper investment as demonstrating tangible technology benefits for institutional clients.

McCusker added:

Regarding JPMorgan’s blockchain platform, it allows T+0 settlement as an option, representing a significant advancement over standard settlement cycles for short-term debt instruments.

The digital debt securities utilize smart contracts to automate payments, redemptions, and corporate actions, eliminating manual processing typical in traditional debt markets. 

State Street noted that the $100 million transaction validates blockchain technology’s capacity to handle institutional-scale debt issuances. At the same time, it maintains regulatory compliance and security standards expected from traditional debt markets.

Market modernization impact

Chief product officer Donna Milrod characterized the digital debt launch as advancing State Street’s integrated blockchain-based solution across front-, middle-, and back-office functions. 

Further, the launch reflects State Street’s digital strategy, incorporating on-chain wallet management and blockchain network interoperability groundwork.

JPMorgan Markets Digital Assets Team credit lead Emma Lovett described the digital debt platform as a significant advancement in digital issuance evolution. It provides clients with opportunities to explore blockchain applications in capital markets for efficiency improvements. The technology unlocks ecosystem-wide efficiencies across bond lifecycles.

The digital debt launch follows February reports that State Street was considering crypto custody services for institutional investors. 

A bank executive indicated that State Street planned to roll out crypto custody services next year, with the institution positioning itself alongside other major custody banks entering digital asset services. 

State Street’s blockchain-based debt issuance represents concrete progress toward digital asset integration beyond speculation about future custody offerings.

Mentioned in this article

Source: https://cryptoslate.com/state-street-issues-100m-digital-debt-securities-on-jpmorgans-proprietary-blockchain/

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