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.
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.
