State Street has completed its first digital debt issuance, executing a $100 million commercial paper transaction on JPMorgan’s Digital Debt Service.
The investment was made through State Street’s Short Term Investment Fund, marking a milestone in blockchain adoption for institutional debt markets.
The securities were issued, settled, and serviced on-chain, enabling features such as smart contract–based automation for payments, redemptions, and corporate actions. The platform also offers the option of T+0 settlement, a major improvement over traditional debt market cycles.
Pia McCusker, State Street Investment Management’s global head of cash management, said the transaction highlights the tangible benefits of blockchain for institutional clients, placing them “at the forefront of the digital transformation in fixed income markets.”
Modernizing Debt Markets
State Street executives emphasized the deal as part of a broader digital strategy, incorporating blockchain wallet management and interoperability solutions across its operations. Chief product officer Donna Milrod called the launch a step toward integrated blockchain workflows across the investment lifecycle.
JPMorgan’s digital assets team said the initiative demonstrates blockchain’s potential to improve capital market efficiency and unlock ecosystem-wide benefits.
The launch comes as State Street prepares to expand into digital custody services next year, a move that would align it with other global custody banks seeking to bridge traditional and digital finance.
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Source: https://coindoo.com/wall-street-giant-state-street-completes-100m-on-chain-debt-deal/