JPMorgan Files Tokenized Money Market For Stablecoin Issuers
Bloomberg analyst Eric Balchunas said JPMorgans JLTXX is also a “big deal” because the 0.16% fee is low for a money market fund with a stable asset value. JPMorgans blockchain use cases The launch of JLTXX follows JPMorgans first tokenized product, My OnChain Net Yield Fund, or MONY, which launched in December and also runs on Ethereum. MONY holds short-term debt securities designed to deliver returns higher than bank deposit rates, with interest and dividends accruing daily. The filing for JLTXX also comes after a pilot transaction JPMorgan participated in last week, in which the first tokenized US Treasury fund moved from the US via XRP Ledger and interbank rails to one of JPMorgans Singapore bank accounts in a matter of seconds. In April, Morgan Stanley launched the Stablecoin Reserves Portfolio, which allows stablecoin issuers to park reserves backing their fiat-pegged tokens in one of the banks money market funds while earning interest. However, the International Monetary Fund flagged several concerns about tokenization in a report in April, arguing that tokenization shifts risk from the banking system to shared ledgers and smart contract code, making it more difficult to intervene during “stress events.” The IMF added that without legal clarity over ownership records and settlement finality,









