$SOL
Banks are entering Solana: JPMorgan conducts a tokenized deal for $50 million
JPMorgan conducted the issuance of tokenized commercial papers for $50 million, choosing the Solana blockchain for the transaction. Buyers included Galaxy Digital, Coinbase, and Franklin Templeton, with all settlements and payments made in the USDC stablecoin.
JPMorgan utilized a public blockchain for the issuance of debt instruments with instant settlements and without traditional paper infrastructure. The bank specifically noted that the goal of the transaction is to demonstrate the practical advantages of blockchain in real financial operations.
Previously, major banks were limited to private networks or exclusively worked with Ethereum. The choice of Solana reflects a shift in priorities towards speed, low fees, and scalability—parameters critical for institutional settlements.
The fact that the largest US bank is using Solana changes the perception of the network. This signals the beginning of the next phase of the RWA market, where real assets—bonds, stocks, and debt instruments—are transitioning to blockchain infrastructure. According to Standard Chartered, the volume of this market could reach $2 trillion by 2028.
