State Street launches on J.P. Morgan’s digital debt platform
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State Street launches on J.P. Morgan’s digital debt platform 22 August 2025US Reporter: Tahlia Kraefft
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State Street has become the first third-party custodian to launch on J.P. Morgan’s digital debt service, expanding institutional access to blockchain-based debt securities.
The collaboration enables State Street to offer custody services for debt securities that are issued, settled, and serviced using blockchain technology.
The purchase of a US$100 million commercial paper issued by Oversea-Chinese Banking Corporation (OCBC), with State Street Investment Management as the anchor investor, marked the collaboration while J.P Morgan Securities will act as the placement agent.
Donna Milrod, chief product officer at State Street says: “Through our direct participation in J.P. Morgan’s Digital Debt Service, we are advancing our ability to deliver a fully integrated front, middle, and back office solution built on blockchain technology. This launch reflects a meaningful step forward in our digital strategy — where we manage a digital wallet on-chain and lay the groundwork for interoperability across blockchain networks.”
Emma Lovett, credit lead for the markets digital assets team, J.P. Morgan, says: “Digital asset adoption and investment continues to increase across financial markets globally. As first movers in this space, J.P. Morgan’s Digital Debt Service application is a significant advancement in the evolution of digital issuances, providing clients with the opportunity to explore the use of blockchain in unlocking ecosystem-wide efficiencies across capital markets and the lifecycle of bond.”
Currently, the service is only available in the US.
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