J.P. Morgan Asset Management today announced the launch of its first tokenized money market fund, My OnChain Net Yield Fund (“MONY”), now available on the public Ethereum blockchain. Powered by Kinexys Digital Assets, the firm’s industry-leading, multi-chain asset tokenization solution, MONY is a 506(c) private placement fund providing qualified investors the opportunity to earn U.S. dollar yields by subscribing through Morgan Money®, the firm’s open architecture trading and analytics platform for liquidity management. Morgan Money is the first institutional liquidity trading platform to integrate traditional and on-chain assets offering investors access to a full-range of money market products. J.P. Morgan is the largest GSIB (global systemically important bank) to launch a tokenized money market fund on a public blockchain.
Qualified investors can access MONY exclusively through the Morgan Money platform, receiving tokens at their blockchain addresses. MONY invests only in traditional U.S. Treasury securities, and repurchase agreements fully collateralized by U.S. Treasury securities, allowing qualified investors to earn yield while holding the token on the blockchain. It offers daily dividend reinvestment and investors will be able to subscribe and redeem using cash or stablecoins through the Morgan Money platform. The fund’s tokenization provides increased transparency, peer-to-peer transferability and the potential for broader collateral usage within the blockchain ecosystem.
“Active management and innovation are at the heart of how we deliver new solutions for investors navigating today’s financial landscape,” said George Gatch, CEO of J.P. Morgan Asset Management. “By harnessing technology alongside our deep expertise in active management, we’re able to provide clients with advanced, innovative, and cost-effective capabilities that help them achieve their investment goals.” The launch of MONY reflects the industry’s growing shift toward tokenization of assets on public networks. As demand for tokenized assets grows, tokenized money market funds can help meet investor needs while introducing new features enabled by blockchain technology.
The MONY blockchain token address is 0x6a7c6aa2b8b8a6A891dE552bDEFFa87c3F53bD46. My OnChain Net Yield Fund (“MONY”) FOR QUALIFIED INVESTORS ONLY. This fund is intended for investors who qualify to invest in private placement funds. Generally, they would include investors who are “Qualified Purchasers” as described in the Investment Company Act of 1940, as amended, and “Accredited Investors” as defined in the Securities Act of 1933, as amended. Blockchain technology is a relatively new and untested technology that operates as a distributed ledger. There are risks associated with the Fund’s use of blockchain technology in the manner described herein. Before investing, please read carefully the Private Placement Memorandum, including for a complete list of potential risks.
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