PANews, August 21 news, the world's largest ETF service provider State Street announced that it has become the first third-party custodian to access JPMorgan's digital debt services, providing blockchain-based debt security custody services for institutional clients.

JPMorgan's digital debt services support the issuance, settlement, and lifecycle management of bonds through the Kinexys digital asset platform, utilizing blockchain technology to achieve precise T+0 settlement and automated operations. The first transaction was completed by State Street's investment management division, purchasing $100 million in commercial paper, marking the modernization of the short-term debt market.