JPMorgan Taps Ethereum for Tokenized 'MONY' Fund

JPMorgan Chase will begin offering an Ethereum-based, tokenized money-market fund to qualified investors this week, according to a Monday press release. The private fund, dubbed My OnChain Net Yield Fund, or “MONY,” will be seeded with 100millionofthebankscapitalbeforeitcanbeaccessedonTuesdaybyindividualswithatleast100 million of the bank’s capital before it can be accessed on Tuesday by individuals with at least 5 million in assets or institutions with 25millionormore,thebanksaid.MONY,whichrequiresaninvestmentofatleast25 million or more, the bank said. MONY, which requires an investment of at least 1 million, represents JPMorgan’s continued exper ...