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JP Morgan Chase & Co (NYSE:JPM) has taken a major step towards blockchain adoption by issuing $50 million in U.S. commercial paper for Galaxy Digital directly on the Solana (CRYPTO: SOL) network.
What Happened: The issuance, purchased by Coinbase (NASDAQ:COIN) and Franklin Templeton, marks one of the earliest instances of a major global bank using a public blockchain to issue and service securities, Reuters reported.
JP Morgan described the move as a "global milestone," signaling accelerating institutional confidence in public blockchain rails.
The deal used USDC (CRYPTO: USDC) for issuance and redemption, underlining the rising importance of stablecoins in institutional settlement.
While JP Morgan has previously conducted blockchain-based issuances on its private network, this transition to Solana highlights the appeal of public chains for their speed, transparency, and low transaction costs.
The bank plans to scale this model to additional issuers, investors, and asset classes in 2026, suggesting a broader rollout of tokenized securities across public networks.
Also Read: Bitcoin Is Ready For One More Push To $100,000 In 2025, Trader Claims
What's Next: JP Morgan's crypto outlook remains bullish.
The bank expects Bitcoin (CRYPTO: BTC) to reach $170,000 within a year as global monetary easing resume.
Its base case 2026 target is $150,000, with potential for moves above $200,000 if inflation cools faster and the Federal Reserve accelerates rate cuts.
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