JPMorgan has taken a major step deeper into tokenized finance by launching its first tokenized money market fund, marking a milestone for traditional banking on public blockchains. The fund, named My OnChain Net Yield Fund, will trade under the ticker MONY and is live on the Ethereum blockchain.
The launch comes through JPMorgan Asset Management, which oversees nearly $4 trillion in assets globally. According to the bank, this makes JPMorgan the largest global systemically important bank to introduce a tokenized money market fund on a public blockchain.
The move highlights how traditional financial institutions are increasingly experimenting with blockchain-based settlement while maintaining strict regulatory frameworks.
Table of Contents
JPMorgan Expands Tokenized Finance Through Kinexys Platform
The MONY fund was launched using Kinexys Digital Assets, JPMorgan’s proprietary tokenization platform. Structured as a 506(c) private placement fund, MONY is designed exclusively for qualified investors who access the product via the Morgan Money institutional trading platform.
John Donohue, head of global liquidity at J.P. Morgan Asset Management, said the launch demonstrates how tokenization can improve the efficiency of traditional financial products. He noted that Morgan Money enables faster transactions while integrating on-chain capabilities with conventional liquidity strategies.
Investors subscribing to the fund receive blockchain-based tokens directly at their designated wallet addresses. JPMorgan said this approach improves transparency, allows peer-to-peer transferability, and opens potential use cases for blockchain-based collateral management.
Morgan Money, which launched in 2019, serves as a centralized dashboard where institutional clients manage liquidity across various money market instruments. JPMorgan said the platform now integrates both traditional assets and on-chain products in a single system.
Fund Structure and Subscription Options
The MONY fund invests exclusively in US Treasury securities and repurchase agreements fully backed by Treasurys. This structure allows qualified investors to earn US dollar-denominated yields while holding a tokenized representation of the fund on Ethereum.
The fund supports daily dividend reinvestment and allows subscriptions and redemptions through cash or stablecoins using the Morgan Money platform. JPMorgan has not yet disclosed which stablecoins will be supported within the offering.
By combining traditional Treasury-backed assets with blockchain settlement, JPMorgan aims to offer institutional investors a regulated way to access yield while participating in tokenized markets.
JPMorgan Accelerates Blockchain-Based Financial Products
The MONY launch follows several recent blockchain initiatives by JPMorgan. Earlier this year, the bank completed the first transaction through its upcoming fund tokenization system, Kinexys Fund Flow, which is expected to roll out more broadly in 2026.
In another milestone, JPMorgan recently issued a US commercial paper for Galaxy Digital Holdings on the Solana blockchain. The transaction marked one of the earliest debt issuances conducted on a public blockchain by a major financial institution.
Together, these developments underline JPMorgan’s strategy of gradually integrating blockchain infrastructure into regulated financial products rather than pursuing retail-focused crypto offerings.
Why This Matters for Tokenized Finance
JPMorgan’s entry into tokenized money market funds reflects a broader shift among global banks toward on-chain settlement and asset tokenization. Unlike crypto-native platforms, JPMorgan is positioning tokenization as an extension of existing financial infrastructure rather than a replacement.
If successful, MONY could set a template for how traditional money market funds operate in a blockchain-enabled environment, particularly for institutional investors seeking efficiency, transparency, and regulated access to on-chain assets.
Read Also: Xiaomi to pre install Sei crypto wallet on smartphones outside China and the US
Comments are closed.