JPMorgan Steps into Tokenized Finance
JPMorgan, one of the world’s largest banks, is taking a pioneering leap into tokenized finance by launching its first money market fund on the Ethereum blockchain. The new fund, named My OnChain Net Yield Fund (MONY), is available to qualified investors via JPMorgan’s institutional platform, Morgan Money.
MONY is issued through Kinexys Digital Assets, the bank’s proprietary tokenization platform, and trades under the ticker MONY. This initiative represents a major milestone for traditional finance, bridging the gap between conventional money market funds and blockchain-enabled investments.
How MONY Works
The MONY tokenized fund operates as a 506(c) private placement, allowing qualified investors to earn yields in US dollars while holding fund tokens directly on their blockchain addresses. Advantages over traditional funds include:
- Increased transparency: All transactions and holdings are visible on-chain.
- Peer-to-peer transferability: Investors can move tokens seamlessly without intermediaries.
- Potential collateral use: Tokens could be utilized across other blockchain-based financial applications.
“With Morgan Money, tokenization can fundamentally change the speed and efficiency of transactions, adding new capabilities to traditional products,” said John Donohue, head of global liquidity at J.P. Morgan Asset Management.
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Morgan Money: Bridging Traditional and On-Chain Assets
Launched in 2019, Morgan Money is JPMorgan’s institutional liquidity platform that provides a real-time investment dashboard and access to both traditional and on-chain assets. Through this platform, MONY investors can:
- Subscribe or redeem daily
- Reinvest dividends automatically
- Use cash or stablecoins for transactions
The fund exclusively invests in US Treasury securities and fully collateralized repurchase agreements, offering a safe and regulated yield option for blockchain investors.
“Morgan Money is the first institutional liquidity trading platform to integrate traditional and on-chain assets, giving investors access to a full range of money market products,” JPMorgan stated.
A Milestone for Traditional Finance on Blockchain
With MONY, JPMorgan becomes the largest globally systemically important bank to offer a tokenized money market fund on a public blockchain. The launch marks a significant step toward mainstream adoption of regulated digital finance products.
The announcement comes shortly after JPMorgan executed its first US commercial paper issuance for Galaxy Digital Holdings on the Solana blockchain, one of the earliest debt transactions conducted publicly on-chain.
JPMorgan also revealed plans to roll out Kinexys Fund Flow in 2026, a platform designed to streamline tokenized fund transactions further.
Conclusion: JPMorgan’s Vision for Blockchain Finance
By introducing MONY, JPMorgan is signaling the next evolution in asset management: combining traditional finance reliability with blockchain efficiency and transparency. The move positions the bank at the forefront of the global tokenized finance revolution, opening doors for regulated, blockchain-based investment solutions in the years ahead.
