JPMorgan expands tokenized money market funds to Solana

J.P. Morgan Asset Management has launched two of its tokenized money market funds, the My OnChain Net Yield Fund (MONY) and the JPMorgan OnChain Liquidity-Token Money Market Fund (JLTXX), on the Solana blockchain. This expansion follows the bank's previous deployment of tokenized assets on Ethereum.

Available to qualified U.S. investors via the Morgan Money platform, these funds allow for subscriptions, redemptions, and token balance management through a single interface. The JLTXX fund is specifically designed to assist stablecoin issuers in managing reserves under the GENIUS Act framework by providing a compliant, yield-bearing instrument on-chain.

By bringing these products to Solana, JPMorgan joins other major financial institutions like BlackRock and Franklin Templeton that have utilized the network for tokenized assets. The move signals an increasing trend of Wall Street firms utilizing public blockchain infrastructure for institutional cash management and settlement.