JPMorgan debuts MONY tokenized money market fund on Ethereum

Institutional investors gain access to daily-yield funds using digital tokens, as blockchain adoption streamlines settlement and boosts efficiency.

Key Takeaways

• JPMorgan has launched its first tokenized money-market fund, MONY, on Ethereum and seeded it with $100 million.
• Investors can use cash or USDC to subscribe and receive digital tokens representing fund ownership on the blockchain.

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JPMorgan’s asset management division has launched a tokenized money-market fund named My OnChain Net Yield Fund (MONY) on the Ethereum blockchain, according to The Wall Street Journal.

The fund, supported by JPMorgan’s Kinexys Digital Assets platform, starts with a $100 million seed from JPMorgan and invites subscriptions from qualified investors. It offers a way for crypto investors to earn yields on blockchain-based assets, responding to increasing client interest in digital asset investment options.

The move represents a growing trend in tokenizing traditional financial assets among major asset managers.

This is a developing story.

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