PANews reported on August 21 that State Street, the world's largest ETF service provider, announced that it has become the first third-party custodian to access JPMorgan Chase's digital debt service, providing blockchain-based debt securities custody services to institutional clients.
JPMorgan Chase's Digital Debt Services supports the issuance, settlement, and lifecycle management of bonds through the Kinexys digital asset platform, leveraging blockchain technology for precise T+0 settlement and automated operations. The first transaction, completed by State Street Investment Management, involved the purchase of $100 million in commercial paper, marking a significant step in the modernization of the short-term debt market.


Market participants are eagerly anticipating at least a 25 basis point (BPS) interest rate cut from the Federal Reserve on Wednesday. The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (BPS) cut and a boost to risk asset prices in the long term.Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction. “The main risk is that the move is already priced in, Puckrin said, adding, “hope is high and there’s a big chance of a ‘sell the news’ pullback. When that happens, speculative corners, memecoins in particular, are most vulnerable.”Read more
