JPMorgan's Tokenized Money Market Funds Go Live on Solana

The investment management arm of Wall Street banking giant JPMorgan Chase has formally launched its money market funds on the Solana blockchain. Two of them (My OnChain Net Yield Fund (MONY) and JPMorgan OnChain Liquidity–Token Money Market Fund (JLTXX)) are now accessible to qualified U.S. investors, per an October 22 press release. Investors can access the funds via JPMorgan's Morgan Money. JPMorgan's launch on Solana follows its initial tokenized fund launch on the Ethereum network, marking further progress on the bank's blockchain-based financial products. It enables institutional investors to manage tokenized investments through one platform, without the need to use various platforms for different blockchains. Tokenized money market funds are blockchain-based tokens that represent conventional investment fund ownership. The goal is more efficient asset transfers and record-keeping.

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