JPMorgan debuts MONY tokenized money market fund on Ethereum
Crypto Briefing
JPMorgan launched its first tokenized money-market fund, MONY, on the Ethereum blockchain with a $100 million seed.Summary
JPMorgan Asset Management has introduced its first tokenized money-market fund, named My OnChain Net Yield Fund (MONY), utilizing the Ethereum blockchain and supported by its Kinexys Digital Assets platform. The fund has been seeded with $100 million and is available for subscription by qualified investors using cash or USDC, who will receive digital tokens representing their ownership on the blockchain. This launch signifies a growing trend among major asset managers to tokenize traditional financial assets, offering institutional investors a way to access daily-yield funds with streamlined settlement and increased efficiency via blockchain technology.
(Source：Crypto Briefing)