JPMorgan Expands Tokenized Money Market Funds To Solana

TL;DR: J.P. Morgan Asset Management says qualified U.S. investors can now access MONY and JLTXX tokenized money market funds on Solana through its Morgan Money platform. J.P. Morgan Asset Management is bringing two of its tokenized money market funds to Solana, extending a traditional cash-management business across another public blockchain. In an announcement Thursday, the investment manager said qualified U.S. investors can now access My OnChain Net Yield Fund, known as MONY, and the JPMorgan OnChain Liquidity–Token Money Market Fund, JLTXX, on Solana through its Morgan Money platform. Investors can subscribe and redeem through that institutional interface and receive balances represented at blockchain addresses. Different funds, different investor rules The two products are not identical forms of digital cash. MONY is a private placement offered under Rule 506(c), with eligibility restrictions for qualifying investors. JLTXX is a U.S.-registered government money market fund structured to serve cash management needs, including those of stablecoin issuers. Both represent fund interests rather than ordinary deposit balances. J.P. Morgan's disclosures make clear that the funds are ...