Tokenization News: $4T Bank JPMorgan Launches Onchain Fund on Ethereum

JPMorgan Chase, a bank managing $4 trillion in assets, is launching a tokenized money-market fund called My OnChain Net Yield Fund (MONY) on the Ethereum blockchain. The fund, seeded with $100 million, will soon open to qualified external investors with a $1 million minimum investment. This move follows similar tokenized fund launches by firms like BlackRock and Franklin Templeton, as institutional demand for blockchain-based finance grows. These tokenized vehicles offer benefits like faster settlement and 24/7 trading compared to traditional money market funds. MONY will hold short-term debt instruments, pay daily interest, and allow redemptions in cash or USDC stablecoin. JPMorgan built the fund on its in-house tokenization platform, Kinexys Digital Assets, viewing it as a test case for expanding its onchain product lineup.

(Source：CoinDesk)