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The OnChain Liquidity-Token Money Market Fund, ticker JLTXX, would invest in US Treasury bills and overnight repurchase agreements collateralized by US Treasuries or cash.
JPMorgan filed to launch the JLTXX tokenized money market fund on Ethereum to back stablecoins.
KEY POINTS
- JLTXX targets a 0.16% annual fee after waivers, unusually low for a stable-value money market fund.
- The fund is designed to comply with the GENIUS Act, a new stablecoin-focused US law.
- A pilot used XRP Ledger to move a tokenized US Treasury fund cross-border in seconds for JPMorgan.
- JLTXX expands JPMorgan's blockchain product suite, building on its previous tokenized MONY fund.
COMPANIES
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