State Street Becomes the First Third-Party Custodian to Launch Services on JPMorgan’s Digital Debt Service Platform

According to ChainCatcher, State Street, the world’s largest ETF service provider, has announced that it has become the first third-party custodian to connect to JPMorgan’s digital debt service, offering blockchain-based debt securities custody services for institutional clients.

JPMorgan’s digital debt service, powered by the Kinexys digital asset platform, supports the issuance, settlement, and lifecycle management of bonds, utilizing blockchain technology to enable precise T+0 settlement and automated operations. The inaugural transaction was completed by State Street’s investment management division, which purchased $100 million in commercial paper, marking a significant step in the modernization of the short-term debt market.