JPMorgan Asset Management Offers Tokenized MMFs on Solana

JPMorgan Asset Management is providing two tokenized money market funds (MMFs) that can be invested in on the Solana blockchain. Institutional investors and stablecoin issuers will be able to invest their excess funds into the funds on Solana. On the 22nd, JPMorgan Asset Management announced that qualified investors in the U.S. can utilize the 'My On-Chain Net Yield Fund (MONY)' and the 'JPMorgan On-Chain Liquidity Token Money Market Fund (JLTXX)' on Solana. MMFs are funds that invest in short-term financial products such as government bonds, and tokenized funds are products that represent the fund shares held by investors as tokens on the blockchain. Investors can join the funds or withdraw their investments through JPMorgan Asset Management's cash management platform, 'Morgan Money.' MONY is a private fund scheduled to launch in December 2025, managing dollar funds for qualified investors. JLTXX is a registered MMF in the U.S. that primarily invests in government-related short-term financial products such as U.S. Treasury bonds and is designed to be utilized by stablecoin issuers for managing their reserves. Paul Psilakis, Global Head of Digital and Tokenized Assets at JPMorgan Asset Management, emphasized that as clients use multiple blockchains, fund management must support this as well.

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