Overview

• State Street executed a tokenized $100 million OCBC commercial paper deal on JPMorgan’s Digital Debt Service as the platform’s first third‑party custodian.
• State Street Investment Management purchased the issuance, with J.P. Morgan Securities serving as placement agent.
• The setup uses on‑chain digital wallets under State Street custody, preserving traditional servicing models while operating on blockchain rails.
• The infrastructure supports delivery‑versus‑payment workflows, optional T+0 settlement, and smart‑contract automation of interest, redemptions and corporate actions.
• Coverage frames the move as evidence of fixed‑income tokenization shifting from pilots to production, as State Street’s broader digital custody plans remain subject to Federal Reserve approval as previously reported.