JPMorgan Chase & Co.’s asset management arm is deepening its push into blockchain-based finance with plans to launch its second tokenized money market fund.
The New York-based bank on Tuesday submitted paperwork for the JPMorgan OnChain Liquidity-Token Money Market Fund (ticker JLTXX). The fund would issue digital tokens on the Ethereum blockchain representing shares in its underlying portfolio of Treasuries and repurchase agreements.
Those tokens can be held in digital wallets, transferred between investors, or used as collateral in crypto markets, with transactions settling in minutes rather than a day or two as is standard for conventional ...
