JP Morgan Launches First-Ever USCP on Solana, Settled in USDC

[mendez]

JP Morgan has executed one of the first US Commercial Paper issuances on a public blockchain, choosing Solana to host the transaction for Galaxy Digital.
The offering was purchased by Coinbase and Franklin Templeton, with all settlement completed entirely in USDC—a first for the commercial paper market.

The move marks a major shift away from JP Morgan’s private Onyx network, signaling Wall Street’s growing trust in public chains. Galaxy called it “a clear example of how public blockchains can transform capital markets,” while Franklin Templeton said institutions are now “transacting at scale—not experimenting.”

[Rimon Khan]

JP Morgan choosing Solana for USCP settlement is huge. Traditional finance is finally embracing blockchain efficiency.

[Nahid Hossen]

This move proves Solana’s scalability isn’t just hype—real institutions are building on it now.