[JPMorgan Creates USCP Token on Solana to Support Galaxy Digital Debt Issuance] According to The Block, Coinbase and Franklin Templeton completed a transaction on the Solana blockchain, purchasing Galaxy Digital's debt tokens. As announced on Thursday, JPMorgan arranged a commercial paper issuance for a subsidiary of Galaxy Digital Holdings, marking "one of the first-ever debt issuances executed on a public blockchain." The companies did not disclose the size or terms of the debt issuance. This move signifies Galaxy Digital's first commercial paper issuance in the U.S., as well as the debut of the USCP token. The USCP token is a tokenized version of Galaxy Digital's short-term corporate debt, created by JPMorgan on Solana to facilitate this transaction. Proceeds from the issuance and redemption will be paid using Circle's USDC stablecoin. Coinbase, one of JPMorgan's blockchain partners, provides private key custody and wallet services for the newly issued USCP tokens, as well as on/off-ramp services for USDC.