JPMorgan files new tokenized Treasury backed fund on Ethereum

JPMorgan Asset Management has filed to launch a second tokenized money market fund on the Ethereum blockchain, named the JPMorgan OnChain Liquidity Token Money Market Fund (JLTXX). This fund will invest exclusively in U.S. Treasury bills, bonds, and notes, along with overnight repurchase agreements collateralized by Treasuries or cash, aiming to maintain a stable $1 net asset value. The fund will utilize blockchain technology for transaction requests, with Kinexys Digital Assets managing the infrastructure. While Ethereum is the current blockchain, JPMorgan plans to expand to others. This initiative follows the bank's earlier launch of the My OnChain Net Yield Fund (MONY) and signifies a continued push into blockchain-based liquidity products for institutional investors, using Ethereum as a transaction and token balance layer around a regulated fund.

(Source：Crypto Briefing)