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The post BREAKING: JPMorgan Debuts Ethereum Tokenized Money-Market Fund appeared first on Coinpedia Fintech News
JPMorgan is making another meaningful move into crypto – this time with one of Wall Street’s most traditional products.
According to a Wall Street Journal exclusive, the banking giant’s asset-management arm has launched its first tokenized money-market fund, built on the Ethereum blockchain and backed by $100 million of JPMorgan’s own capital. The fund is expected to open to outside investors this week.
For a firm that manages nearly $4 trillion in assets, this is a major signal.
A Familiar Wall Street Product, Rebuilt on Ethereum
The fund is called My OnChain Net Yield Fund (MONY). It runs on Ethereum and is supported by Kinexys Digital Assets, JPMorgan’s internal tokenization platform.
Money-market funds are typically seen as low-risk, conservative vehicles used for cash management. By bringing one on-chain, JPMorgan is applying blockchain technology to the most basic layer of finance.
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