🏦 THE GIANT MOVES A PIECE
JPMorgan launches a tokenized money market fund on Ethereum, confirming the institutional flight towards Blockchain
$4T in assets point to tokenization with the MONY fund
#JPMorgan Chase, the global bank with $4 trillion in assets under management, has taken a monumental step in the space of blockchain-based finance by launching its own tokenized money market fund, deepening its commitment to technology in response to growing institutional demand.
The fund, called My OnChain Net Yield Fund #MONY , is built on the blockchain of #Ethereum and has an initial investment of $100 million from the bank's asset management division.
What is MONY? It is a fund designed to hold short-term debt instruments and pay interest daily, just like a traditional fund, but with the efficiency of blockchain.
On-Chain Advantage: Tokenization allows investors to access key benefits such as faster settlements, 24/7 operations, and real-time visibility of ownership.
Strategic Use: In addition to passive yield, these tokenized assets are increasingly being used as collateral and reserve assets within Decentralized Finance (DeFi) protocols.
Investment and Technology: MONY has been created on Kinexys Digital Assets, JPMorgan's internal tokenization platform. It will be available to qualified investors with a minimum investment of $1 million, who can redeem shares in cash or with the stablecoin USDC.
The Institutional Race: JPMorgan joins the wave of financial giants. BlackRock (with its BUIDL fund, which has already attracted $2 billion) and Franklin Templeton were pioneers, signaling that money market funds are the preferred entry point for the tokenization of real-world assets (Real World Assets or #RWA
