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JPMorgan issues Galaxy short-term bonds on the Solana network
On December 12, according to Bloomberg, JPMorgan arranged, created, distributed, and settled a short-term bond on the Solana blockchain for Galaxy Digital Holdings LP, as part of an initiative to enhance the efficiency of financial markets using underlying cryptocurrency technology. The $50 million US commercial note was purchased by CEX and asset management firm Franklin Templeton, with payment made in USDC stablecoins issued by Circle Internet Group Inc., the companies stated in a Thursday announcement. The redemption payment upon maturity will also be made in USDC.