JPMorgan Chase & Co. announced the launch of its first tokenized money market fund on the public Ethereum network, in a move described as a significant shift in major banks' approach to using public blockchain as a platform for offering regulated financial products.
The bank clarified that the fund became operational on December 15, 2025, after being funded with an initial internal capital of 100 million dollars, targeting institutional clients wishing to manage liquidity and invest in money market instruments through advanced digital infrastructure.
The fund operates on the Ethereum mainnet, allowing for continuous access and near-instant settlement of transactions, compared to traditional systems that may take several days to complete settlements. This model aims to enhance cash management efficiency and improve the operational performance of financial institutions.
The launch represents an expansion of JPMorgan's Kinexys platform, which previously focused on private and permissioned blockchain networks. The shift to public Ethereum reflects the bank's direction to leverage open infrastructure in providing regulated financial products, following initiatives that included the launch of a US dollar deposit token on the Base network.
The bank noted that the tokenized deposit products are offered as a regulated alternative to stablecoins for institutional clients, providing yield-generating tools within regulated banking frameworks. It also reaffirmed its plans to expand the fund in the future and add other currencies, subject to regulatory approvals.