J.P. Morgan Asset Management has launched its first tokenised money market fund, My OnChain Net Yield Fund (MONY), on the public Ethereum blockchain.
The fund is powered by Kinexys Digital Assets, the firm’s multi-chain asset tokenisation solution.
MONY is a 506(c) private placement fund offering qualified investors the ability to earn US dollar yields by subscribing via Morgan Money, J.P. Morgan’s trading and analytics platform for liquidity management.
Morgan Money integrates both traditional and on-chain assets, providing access to a range of money market products.
J.P. Morgan is the largest global systemically important bank (GSIB) to launch a tokenised money market fund on a public blockchain.
Qualified investors can access MONY exclusively through Morgan Money, receiving tokens at their blockchain addresses.
The fund invests solely in US Treasury securities and repurchase agreements fully collateralised by US Treasuries.
It allows daily dividend reinvestment and subscriptions and redemptions in cash or stablecoins through the platform.
Tokenisation provides increased transparency, peer-to-peer transferability, and potential broader collateral use within the blockchain ecosystem.
“Active management and innovation are at the heart of how we deliver new solutions for investors navigating today’s financial landscape,”
said George Gatch, CEO of J.P. Morgan Asset Management.
“By harnessing technology alongside our deep expertise in active management, we’re able to provide clients with advanced, innovative, and cost-effective capabilities that help them achieve their investment goals.”
Featured image credit: Edited by Fintech News Switzerland, based on image by EyeEm via Freepik
