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State Street, an asset manager and custodian bank serving institutional clients, has joined financial services company JPMorgan’s tokenized debt platform as its first third-party custodian, allowing it to hold blockchain-based debt securities on behalf of investors.
JP Morgan’s Digital Debt Service platform allows institutional clients to trade and settle tokenized debt instruments, which are securities issued on a blockchain that represent government or corporate bonds.
The asset manager purchased $100 million in tokenized commercial debt from…
