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State Street Bank joins JPMorgan's Blockchain debt services, completing a $100 million commercial paper transaction.
[Chain News] On August 21, it was reported that State Street, the world's largest ETF service provider, announced that it has become the first third-party custodian to access JPMorgan's digital debt services, providing institutional clients with blockchain-based debt securities custodian services. JPMorgan's digital debt services, supported by the Kinexys digital asset platform, facilitate the issuance, settlement, and lifecycle management of bonds, utilizing blockchain technology to achieve precise T+0 settlement and automated operations. The first transaction was completed by State Street's investment management department, which purchased $100 million in commercial paper, marking the modernization process of the short-term debt market.