JPMorgan Chase has introduced its first-ever tokenized money market fund, My OnChain Net Yield Fund (MONY), which operates on the Ethereum blockchain. The fund, powered by JPMorgan’s Kinexys Digital Assets platform, represents a significant step in the bank’s move into blockchain technology. MONY aims to offer a modern alternative to traditional money market funds by providing real-time transparency, faster transactions, and the ability to redeem funds in either cash or stablecoins like USDC.
MONY functions similarly to conventional money market funds, investing in short-term debt instruments. The main difference is that its shares exist on the Ethereum blockchain, ensuring instant settlement and on-chain ownership tracking. This structure allows investors to access their funds efficiently while benefiting from daily interest payouts, a feature typically offered by traditional money market funds.
Access to the fund is available exclusively to qualified investors with a minimum investment of $1 million. JPMorgan has initially funded MONY with $100 million, and it will officially open to external investors starting December 16. The fund offers two subscription options: traditional cash or the USDC stablecoin, allowing flexibility for those involved in the cryptocurrency space.
MONY’s introduction highlights JPMorgan’s broader strategy of embracing blockchain technology. The bank’s decision to use Ethereum demonstrates its confidence in the potential of public blockchains to revolutionize financial products. With this move, JPMorgan becomes the first Global Systemically Important Bank (G-SIB) to launch a tokenized money market fund, positioning itself as a leader in the financial industry’s evolving landscape.
This launch also demonstrates the bank’s commitment to blockchain-based solutions. By leveraging its Kinexys Digital Assets platform, JPMorgan is testing the waters for future blockchain investment vehicles. The integration of blockchain allows for better transparency, faster transactions, and a decentralized structure, which could improve the efficiency of traditional asset management models.
JPMorgan’s launch follows a growing trend of major asset management firms exploring tokenization. BlackRock, Franklin Templeton, and Fidelity have also entered the space, offering tokenized funds or blockchain solutions to their clients. This shift reflects a broader industry move toward digital assets and blockchain-based financial products.
The tokenized money market fund market has already shown substantial growth. From $3 billion in assets in 2024, tokenized money market funds have reached $9 billion in 2025, according to reports. This increase signifies the rising demand for blockchain-backed financial products, which offer transparency and greater operational efficiency.
JPMorgan’s entry into tokenized assets marks an important milestone for the financial industry. With MONY, the bank has set a precedent for other financial institutions, and it is expected that more players will follow suit. As blockchain adoption continues to grow, the tokenization of assets, including money market funds, is likely to become a standard practice in the investment world.
The post JPMorgan Takes a Leap into Crypto with Tokenized Money Market Fund on Ethereum appeared first on CoinCentral.

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