Ethereum-Based MONY Fund Offers Dollar Yields for Qualified Investors
JPMorgan has entered the tokenized finance space by launching its first money market fund (MMF) on the Ethereum blockchain. Named My OnChain Net Yield Fund (MONY) the fund allows qualified investors to earn US dollar yields while subscribing or redeeming through cash or stablecoins.
The fund is issued via Kinexys Digital Assets, JPMorgan’s proprietary tokenization platform, and is accessible through the Morgan Money institutional trading platform. MONY represents a 506(c) private placement fund, providing investors with blockchain-based tokens linked to traditional US Treasury securities and repurchase agreements fully collateralized by treasuries.
By tokenizing the MMF, JPMorgan enables peer to peer transfers increased transparency, and potential collateral usage within the blockchain ecosystem. Investors can hold tokens directly at their blockchain addresses and benefit from daily dividend reinvestment, enhancing liquidity and operational efficiency.
John Donohue, head of global liquidity at JPMorgan Asset Management, emphasized that MONY “marks a significant step forward in how assets will be traded in the future, highlighting the growing integration of traditional finance with on-chain solutions. Since its 2019 launch, Morgan Money has provided real-time investment dashboards and unified access to both on-chain and traditional assets.
MONYs launch underscores the accelerating trend of regulated tokenized financial products, following JPMorgan’s recent commercial paper issuance for Galaxy Digital Holdings on the Solana blockchain. As major banks explore blockchain adoption, JPMorgan’s Ethereum-based MMF signals a new era of institutional-grade crypto-financial instruments.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.