State Street and JP Morgan Complete First Transaction on RWA Debt Platform

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…