The token facilitates delivery-versus-payment settlement of the primary issuance.
,The lead investors of the issuance were Coinbase and Franklin Templeton.
,Jason Urban, global head of trading at Galaxy, commented: “This issuance is a clear example of how public blockchains can improve the way capital markets operate. By bringing our first commercial paper offering on-chain and helping structure one of the earliest U.S. transactions of its kind, we’re putting into practice the model we’ve long believed in: open, programmable infrastructure that supports institutional-grade financial products.”
,This will be Galaxy’s first commercial paper issuance, aiming to expand their investor base focused on blockchain markets.
,Sandy Kaul, head of innovation at Franklin Templeton, said: “We’ve entered a new era where institutions are no longer just experimenting with blockchain—we’re transacting on it in a big way.”
