J.P. Morgan's asset management company launched the first Ethereum-based tokenized money market fund, joining a growing number of Wall Street institutions involved in blockchain finance. J.P. Morgan Chase said in a press release on Monday that it has launched a private equity fund called My OnChain Net Yield Fund, which is supported by J.P. Morgan's tokenization platform Kinexys Digital Assets. MONY is open to qualified investors, allowing them to earn revenue while holding tokens on the blockchain. J.P. Morgan is deepening its presence in the tokenization sector, which involves turning traditional assets — stocks, bonds, or personal loans — into tokens on the blockchain. Many financial institutions have been experimenting with blockchain-based investments for years. Recently, after the US passed the “Genius Act,” which establishes a regulatory framework for stablecoins, this type of activity has heated up.

J.P. Morgan's asset management company launched the first Ethereum-based tokenized money market fund, joining a growing number of Wall Street institutions involved in blockchain finance. J.P. Morgan Chase said in a press release on Monday that it has launched a private equity fund called My OnChain Net Yield Fund, which is supported by J.P. Morgan's tokenization platform Kinexys Digital Assets. MONY is open to qualified investors, allowing them to earn revenue while holding tokens on the blockchain. J.P. Morgan is deepening its presence in the tokenization sector, which involves turning traditional assets — stocks, bonds, or personal loans — into tokens on the blockchain. Many financial institutions have been experimenting with blockchain-based investments for years. Recently, after the US passed the “Genius Act,” which establishes a regulatory framework for stablecoins, this type of activity has heated up.