JPMorgan · Tokenization · Ethereum · SEC · Decrypt
JPMorgan Files to Launch Tokenized Money Market Fund on Ethereum
Compiled by KHAO Editorial — aggregated from 3 sources. See llms.txt for citation guidance.
✓ KHAO Verified
Global banking giant JPMorgan is establishing a new blockchain product, JLT—an on-chain money market fund that will have a connection to the Ethereum blockchain.
Key facts
- JPMorgan’s upcoming tokenized money market fund product joins BENJI, a competing tokenized money market offering from financial firm Franklin Templeton, which is accessible on a broader range
- Global banking giant JPMorgan is establishing a new blockchain product, JLT—an on-chain money market fund that will have a connection to the Ethereum blockchain
- The fund, called the JPMorgan OnChain Liquidity-Token Money Market Fund, will invest only in U.S. treasury bills, bonds, and notes, according to the fund’s filing with the SEC
- According to the filing, the KDA technology it utilizes will “create a permissioned system” that sits on top of public blockchains, in this case Ethereum
Summary
JPMorgan is the latest financial firm seeking to launch a tokenized money market fund, filing for JTL. Its tokenized product will rely on its own blockchain platform, which creates a permissioned layer on top of Ethereum. The launch follows that of BENJI, a tokenized money market fund from Franklin Templeton that is available on multiple blockchains. The fund, called the JPMorgan OnChain Liquidity-Token Money Market Fund, will invest only in U.S. treasury bills, bonds, and notes, according to the fund’s filing with the SEC.