- MONY to offer U.S. Treasury yields with blockchain-based transparency and peer-to-peer transferability.
- Tokenized money market fund to enable faster settlement, 24/7 liquidity, and greater efficiency for institutional investors.
JPMorgan has launched its first tokenized money market fund on the public Ethereum blockchain, Bloomberg reveals. This initiative is expected to mark a significant step in JPMorgan’s expansion into on-chain finance.
This fund, called My OnChain Net Yield Fund (MONY), is issued through JPMorgan’s Kinexys Digital Assets platforms. It is available to qualified investors via the bank’s trading platform, Morgan Money.
MONY is structured as a 506 (c) private placement, and it’s expected to allow investors to earn US dollar yields while subscribing using cash or stablecoin. The fund invests exclusively in U.S. Treasury securities and Treasury-backed repurchase agreements, combining traditional low-risk assets with blockchain-based settlement.
The tokenization is expected to enable greater transparency, peer-to-peer transferability, and potential collateral use with the broader blockchain ecosystem.
John Donohue, Head of Global Liquidity at J.P. Morgan Asset Management, shared in a statement,
“We are excited to be a first mover with the launch of MONY, and we expect other GSIB banks to follow our lead in providing clients with greater optionality in how they invest in money market funds.”
This move follows other tokenization, such as on-chain commercial paper issuance and plans for a broader fund tokenization platform in 2026.
See Related: Nasdaq Sets Sight On First Tokenized Trading With SEC Approval
Why Tokenized Funds Are A Big Deal For Institutions
According to John Donohue, tokenizing a money market fund like JPMorgan’s MONY marks a turning point for institutional finance. He shared in a statement that “This is a significant step forward in how assets will be traded in the future.”
The move is expected to bring traditional liquid assets onto blockchain rails, enabling faster settlement and automated compliance through smart contracts. Blockchain tokenization is also projected to reduce operational frictions, unlock 24/7 liquidity, and enhance capital efficiency for institutional investors.
