JPMorgan to Launch Tokenized Money Market Fund

Banking giant JPMorgan has filed to launch a new tokenized money market fund on Ethereum. The fund allows stablecoin issuers to hold reserves in a regulated vehicle while earning interest.

The filing comes after Morgan Stanley announced its own money market fund called the Stablecoin Reserves Portfolio.

JPMorgan Files to Launch Tokenized Money Market Fund

The fund, called the OnChain Liquidity-Token Money Market Fund, will trade under the ticker JLTXX. According to a regulatory filing with the Securities and Exchange Commission, it will invest in US Treasury bills and overnight repurchase agreements collateralized by cash or US Treasurys. The fund will also comply with the GENIUS Act, signed in July, and be managed by JPMorgan’s Kinexys Digital Assets (KDA) unit. The filing adds that the fund utilizes a “permissioned system” sitting on top of blockchains. The fund is currently available only on Ethereum, but will be expanded to other networks in the future. The filing states, “The Ethereum blockchain, a public blockchain network, is currently the only available blockchain for use by investors, although expansion to other blockchains is anticipated in the future.”

Fund Details

Investors in the fund must commit a minimum investment of $1 million. The fund has a 0.16% annual fee after waivers. JPMorgan stated that the filing becomes effective on Wednesday, but has not disclosed the fund’s launch date. The fund also highlighted blockchain technology risk alongside interest rate changes and general market risks, noting that blockchain technology is relatively new and untested. The risks include the blockchain not functioning as intended, regulatory concerns, and unknown technical flaws.

Blockchain-based tokenization has attracted strong interest from Wall Street, with executives believing the technology offers greater efficiency in settlements and trading than traditional systems. According to RWA.xyz data, over $32 billion worth of real-world assets, including stocks, bonds, commodities, and real estate, are currently tokenized on-chain.

The fund is JPMorgan’s second crypto-linked initiative in a week following Ondo Finance’s collaboration with the bank’s Kinexys platform, Ripple, and Mastercard to settle tokenized treasuries on the XRP ledger. The upcoming tokenized money market fund will directly compete with BENJI, a tokenized money market fund from rival Franklin Templeton. BENJI is available on BNB Chain, Avalanche, and Canton.

JPMorgan’s Foray Into Tokenization

JLTXX is JPMorgan’s second tokenized product after the My OnChain Net Yield Fund (MONY). MONY launched in December on Ethereum and holds short-term debt securities with higher returns than bank deposits. JPMorgan also participated in a pilot transaction last week, moving the first tokenized US Treasury fund from the US to its Singapore bank account via the XRP ledger and interbank rails.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

https://www.cryptobreaking.com/jpmorgan-to-launch-tokenized-money/?utm_source=blogger%20&utm_medium=social_auto&utm_campaign=JPMorgan%20to%20Launch%20Tokenized%20Money%20Market%20Fund%20

Coinbase's x402 launches AI agents app store for payments

Coinbase-backed x402 has unveiled Agentic.market, a dedicated marketplace aimed at increasing the usefulness of AI agents by aggregating thousands of apps and services that agents can access without any API keys. The rollout positions the platform as a central hub for agents to discover, evaluate, and deploy capabilities across a standardized payments layer. Coinbase product lead Nick Prince described Agentic.market in a video posted on X as a storefront for discovering, comparing, and using x402 services. The marketplace is designed to give both humans and their AI agents access to a wide range of tools—from data feeds to consumer apps—without the friction of managing API credentials. A storefront for discovering, comparing, and using x402 services. Thousands of services. Zero API keys. Powered by x402. Prince added that the market offers a web interface for humans to browse and assess services, alongside a programming layer that lets AI agents autonomously search, filter, and integra...

Mastercard Launches AI Agent Pay System With Ripple and Solana Help

Mastercard has launched Agent Pay for Machines, a payments system built for autonomous software agents. The service allows AI agents to send and receive payments without direct human action. It brings Ripple, Coinbase, and Solana Foundation into Mastercard’s push for automated digital commerce. Ripple Brings XRPL and RLUSD to Mastercard’s Agent Pay System Mastercard introduced Agent Pay for Machines on June 10 as a tool for machine-led payments. The system targets high-volume and low-value transactions across business and consumer use cases. It also supports automated settlement between software agents and connected machines. Ripple will support the system through the XRP Ledger and its RLUSD stablecoin. The company said that settlement will become more important as automated commerce grows. It also sees blockchain rails as useful for fast and rule-based payments. RippleX senior vice president Markus Infanger said XRPL and RLUSD support enterprise-grade agent payments. He said the tool...

Top Cryptocurrencies to Watch: BTC, ETH, BNB, XRP, Solana, Dogecoin & More

Market Analysis and Price Predictions for Key Cryptocurrencies Recent market dynamics reveal a cautious sentiment across the cryptocurrency landscape, with Bitcoin struggling to maintain levels above $90,000 and many major altcoins facing downward pressure. Indicators point toward reduced participation from both institutional and retail investors, raising concerns about a potential consolidation phase after notable gains earlier in the year. Bitcoin has fallen below $87,000, reflecting waning demand at higher price points. Institutional fund flows into BTC and ETH ETFs have turned negative, indicating a period of subdued market activity. Active addresses and Binance deposit/withdrawal activities are at annual lows, suggesting market indecision. Most leading altcoins are approaching support levels, with some poised for potential breakdowns. Tickers mentioned: Bitcoin, Ethereum, Binance Coin, XRP, Solana, Dogecoin, Cardano, Bitcoin Cash, Chainlink, Hyperliquid Sentiment: Neutral to Sli...

Search This Blog