JPMorgan Unveils MONY Fund and JPMD Token, Embracing Blockchain
4.7 Banking JPMorgan launches its first tokenized money-market fund, MONY, on Ethereum with a $100 million seed, offering qualified investors blockchain-based access and daily yields. The bank also debuts the JPMD token for instant institutional payments.
JPMorgan has launched its first tokenized money-market fund, My OnChain Net Yield Fund (MONY), on the Ethereum blockchain, marking a significant step in bridging traditional finance with blockchain technology. The fund, seeded with $100 million of JPMorgan’s own capital, is open to qualified investors who can subscribe using cash or USDC and receive digital tokens representing ownership. Supported by JPMorgan’s Kinexys Digital Assets platform, MONY allows institutional investors to access daily yields and benefit from blockchain-based settlement, increased transparency, and potentially faster trading. This move reflects growing institutional demand for tokenized financial products and signals a broader trend among major asset managers to adopt blockchain infrastructure for real-world assets. Additionally, JPMorgan has introduced the JPMD token, a yield-bearing USD deposit token on Coinbase’s Base network, designed for instantaneous institutional payments and further demonstrating the bank’s commitment to blockchain innovation.
