According to @CoinMarketCap, JPMorgan arranged Galaxy Digital’s first commercial paper issuance on Solana as tokenized debt executed on a public blockchain, highlighting institutional-grade settlement on-chain, source: @CoinMarketCap on X, Dec 12, 2025. Coinbase and Franklin Templeton purchased the tokenized commercial paper, confirming direct institutional participation in on-chain debt issuance, source: @CoinMarketCap on X, Dec 12, 2025. The transaction is described as one of the first debt issuances executed on a public blockchain, a concrete data point traders can use to monitor Solana (SOL) activity and real-world asset tokenization flows, source: @CoinMarketCap on X, Dec 12, 2025.