JPMorgan Chase issued $50 million in commercial paper to Galaxy Digital Holdings LP on the Solana blockchain in its first USCP deal. Coinbase and Franklin Templeton purchased Galaxy Digital’s USCP debt token using Circle’s USDC, with settlement and redemption also in USDC. This marks Galaxy Digital’s first USCP issuance and one of the earliest public blockchain transactions for U.S. commercial paper, reinforcing the trend of asset tokenization in debt markets.