JPMorgan Launches Tokenized Money-Market Fund on Ethereum

JPMorgan Chase is expanding into the crypto ecosystem by launching a tokenized money-market fund using the Ethereum blockchain.

Key Points

The fund, named My OnChain Net Yield Fund (MONY), will start with a $100 million seed from JPMorgan's capital and later open to outside investors.
Access will be provided through JPMorgan’s tokenization platform, Kinexys Digital Assets, for qualified investors: individuals with at least $5 million or institutions with a minimum of $25 million in investments.
The minimum investment required is $1 million.
The initiative responds to increasing client interest in tokenized products.

Wall Street shows growing interest in tokenization, influenced by stablecoin regulations like the Genius Act.
The Genius Act provides stability and security for USD-pegged stablecoins, enforces AML and KYC protocols, ensures 1:1 US dollar-backed reserves, and prevents monopolistic practices.
Republic plans to tokenize Animoca Brands’ equity, aiming to offer global investors a compliant framework.