JPMorgan Chase has filed an application with the U.S. Securities and Exchange Commission for a blockchain-based money market fund designed in part for stablecoin issuers.
According to the filing, the fund would use blockchain infrastructure developed by Kinexys Digital Assets (KDA), a business unit within JPMorgan Chase Bank, N.A.
The filing states that the fund “uses blockchain technology to provide a means for investors to submit transaction instructions” involving fund shares through the blockchain system.
The filing says the blockchain framework is “designed, deployed, and maintained” by KDA and operates as a permissioned system layered on top of public blockchains.
JPMorgan said the system combines “policies, procedures, and technological controls” intended to ensure transactions remain under the “full and complete control and oversight of the Fund.”
The application also highlights the role stablecoin issuers could play in the product.
According to the filing, shares of the fund are “expected to be held by one or more stablecoin issuers as all or a portion of the reserve assets that back the stablecoins issued to their customers.”
The proposed structure signals continued interest from major financial institutions in integrating blockchain technology into traditional financial products and stablecoin infrastructure.
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