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JPMorgan (JPM) is preparing to launch a tokenized money market fund.
JPMorgan will launch a tokenized money market fund called JPMorgan OnChain Liquidity-Token Money Market Fund (JLTXX).
KEY POINTS
- JLTXX will utilize Ethereum and is operated by JPMorgan's blockchain unit, Kinexys Digital Assets.
- The fund is designed to meet U.S. reserve asset rules under the GENIUS Act for stablecoin issuers.
- Tokenized money market funds may provide compliant Treasury exposure for stablecoin issuers seeking yield.
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