State Street Bank becomes the first third-party custodian to launch services on JPMorgan's digital debt services platform

ChainCatcher news, 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 custody services.

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.