JPMorgan unveils tokenized money market fund on Ethereum
6.6 Banking JPMorgan launches a tokenized money market fund on Ethereum, investing in U.S. Treasurys to support stablecoin reserves, managed by Kinexys Digital Assets.
JPMorgan is launching a tokenized money market fund on the Ethereum blockchain to address reserve requirements for stablecoin issuers under the GENIUS Act in the U.S. The fund, named JPMorgan OnChain Liquidity-Token Money Market Fund (JLTXX), will invest solely in U.S. Treasurys, bonds, notes, and overnight repurchase agreements backed by government securities or cash. Managed by Kinexys Digital Assets, JPMorgan’s blockchain division, the fund will initially operate on Ethereum, with plans to expand to other blockchains in the future. This initiative aims to provide high-quality liquid collateral for stablecoin reserves, positioning the fund as essential infrastructure for regulated stablecoin issuers. JPMorgan’s move aligns with similar efforts by other financial institutions, highlighting the growing integration of blockchain technology into traditional finance and the rising demand for tokenized real-world assets.
