JPMorgan дебютирует с первым токенизированным фондом денежного рынка на Ethereum Translation: JPMorgan Debuts with First Tokenized Money Market Fund on Ethereum

The banking powerhouse JPMorgan has unveiled its inaugural tokenized money market fund (MMF) built on the Ethereum blockchain.

The product, named My OnChain Net Yield Fund and marked under the ticker MONY, is launched via the bank’s proprietary platform — Kinexys Digital Assets. It is structured as a 506(c) private placement fund aimed at accredited investors, who can subscribe to it through the institutional platform, Morgan Money, to earn returns in US dollars.

«The client interest in tokenization is immense. We aim to establish ourselves as leaders in this domain and collaborate with clients to create a product line that offers them the same choices on the blockchain that they have in traditional money market funds,» remarked John Donovan, head of liquidity at JPMorgan Asset Management, in an interview with the *WSJ*.

The release of MONY positions JPMorgan as the first bank of global systemic importance to launch an MMF on a public blockchain. Currently, BlackRock, managing $1.8 billion with its BUIDL fund, leads in this sector.

In July, American financial giants Goldman Sachs and BNY announced their plans to launch tokenized funds.

JPMorgan is intensifying its activities in the blockchain space. Last November, the bank released the JPMD deposit coin for institutional clients on the Base layer-2 network. In December, the company conducted a $50 million transaction on the Solana network with Galaxy Digital.

Qatar’s Doha Bank executed an initial issuance of a digital bond worth $150 million, listed on the London Stock Exchange. The settlement was processed through the Euroclear private blockchain platform — Digital Financial Market Infrastructure.

Standard Chartered acted as the sole coordinator and underwriter for this issuance.

«The debut of Doha Bank’s digital bond underscores the tangible, real-world efficiency that advanced digital infrastructure brings to capital markets, as well as the growing demand from our clients for next-generation opportunities and execution,» stated Salman Ansari, the global head of capital markets at Doha Bank.

A key feature of Euroclear is its focus on the regulated market. Unlike public blockchains, this system is inherently designed to operate within stringent legal and financial frameworks. It guarantees secure operations.

An equivalent platform is also available at British bank HSBC — Orion, which has already been utilized for the issuance of corporate digital bonds in key jurisdictions across Asia and the Middle East.

It’s worth noting that at the end of November, the Bank for International Settlements issued a warning about the risks of tokenization for the entire financial system.