State Street Bank Engages in JPMorgan Digital Debt, Achieves Blockchain Custody Services

According to news from HashChain, State Street Bank, the world's largest ETF service provider, has announced that it has become the first third-party custodian to engage in JPMorgan's digital debt services, providing blockchain-based debt securities custody services for its institutional clients. JPMorgan's digital debt services, supported by the Kinexys digital asset platform, facilitate the issuance, settlement, and lifecycle management of bonds, utilizing blockchain technology for precise T+0 settlement and automation. The first transaction was completed by State Street's investment management division, which purchased $100 million in commercial paper, signaling the modernization of the short-term debt market.