State Street Corporation (NYSE: STT) announced today that it has become the first third -party guard to launch JP Morgan’s digital debt service, signaling a significant milestone in the institutional adoption of Blockchain -based debit securities.
This strategic collaboration allows State Street to provide custody services for debit securities issued, settled and served using blockchain technology, providing a seamless and effective customer experience.
The service is currently available only in the US
This milestone was characterized by the successful purchase of a $ 100 million paper trading with the State Street Investment Management, the State Street Corporation Asset Management Operation. The transaction demonstrates the ability of the Digital Debt Service to modernize short -term debt markets, allowing settlement accurately, by settlement T+0 available as an option.
As JP Morgan’s Digital Debt Service responsible, State Street can now provide customers access to blockchain -based securities while maintaining the safety and regulatory standards expected by traditional custody services.
The transaction also demonstrates the full integration of State Street capabilities throughout the investment life cycle, with State Street investment management serving as an investor and state street that provides medium and back office functionality.
“Through our immediate participation in JP Morgan’s digital debt service, we are promoting our ability to offer a fully integrated front, medium and back-office solution based on blockchain technology,” said Donna Milrod, head of products on State Street. “This launch reflects an important step forward in our digital strategy-where we manage a digital wallet on the chain and lay the groundwork for interoperability through blockchain networks.
Incorporation with JP Morgan allows State Street to provide customers with a seamless custody experience that incorporates blockchain -based debit media without changing the established service model, including:
- Settlement accurately: Settlement infrastructure allows accuracy and reliability with reduced risk of counterparty
- Outmacial Life Circle Management: Smart contracts rationalized payments, acquisitions and other corporate actions automatically.
“This collaboration with the JP Morgan Digital Debt Service represents a transformative movement for the management of institutional assets,” said Pia McCusker, a global head of cash management management to manage state street investment management. “Our successful investment in the first commercial transaction of blockchain paper for our short -term investment fund demonstrates the tangible benefits that this technology brings to our customers and places them at the forefront of digital transformation in fixed income markets.”
“The adoption and investments of the digital asset continue to increase in all financial markets worldwide. As the first moves in this time, JP Morgan’s digital debt application is a major progress in the development of digital versions, providing Credit customers for Digets and Lifecy.” Street as a guardian in our application proves another important step forward in the institutional adoption of blockchain -based debit securities. “