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JPMorgan launches a tokenized money market fund on Ethereum for stablecoin issuers.
The JLTXX fund will allow holding stablecoin reserves in tokenized U.S. Treasury bonds and overnight repos, while earning yields at the same time.
The fund will be managed by the bank's blockchain division, Kinexys Digital Assets.
JPMorgan states that the product complies with the requirements of the new U.S. stablecoin law, GENIUS.