Are you preparing to launch a tokenized money market fund on Ethereum

JPMorgan Chase & Co. is preparing to launch a blockchain-based money market fund through the Ethereum platform.

According to circulating reports, the new fund will be managed by the bank's digital asset division "Kinexys Digital Assets," and will primarily invest in U.S. Treasury bonds and short-term repurchase agreements.

The core idea is to tokenize the fund's assets, meaning converting investor shares into tradable encrypted tokens that can be stored in digital wallets on the Ethereum network. This allows for transfers and settlements to be completed within minutes, instead of waiting a day or two as in traditional funds. These tokens can also be used as collateral within cryptocurrency markets.

The new product complies with the "GENIUS" law, the U.S. regulatory framework for dollar-pegged cryptocurrencies. It is believed that the fund is specifically designed to meet the increasing demand from crypto issuers for secure, highly liquid assets that can serve as reserves to support their cryptocurrencies.

This move is not the bank's first; JPMorgan Chase & Co. previously launched the "My OnChain Net Yield Fund," abbreviated as MONY, which was the first tokenized money market fund under its umbrella. Other major companies are also entering the race, including BlackRock, which recently submitted applications to launch similar funds...
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