State Street Partners with JPMorgan on $100 Million Tokenized Debt Trade

State Street has joined JP Morgan as a participant in its blockchain-powered Digital Debt Service, marking a significant step towards mainstream adoption of the technology within institutional finance. The company executed a landmark $100 million transaction for tokenized commercial paper issued by Oversea-Chinese Banking Corporation (OCBC), demonstrating the potential of blockchain to revolutionize short-term loan securities. 49 trillion in assets under management, this move signals the financial industry’s commitment to utilizing blockchain technology for faster and more efficient markets.