JPMorgan Adds MONY and JLTXX to Solana

JPMorgan Asset Management has made its tokenized money market funds MONY and JLTXX available on Solana to qualified U.S. investors, adding the blockchain as another network for accessing the products. Investors can use the firm’s Morgan Money platform to subscribe to and redeem shares, with corresponding token balances delivered to blockchain addresses. Both funds were already available on Ethereum. JPMorgan said the Solana expansion does not change their eligibility requirements, and the products are not being opened to the general retail market. The launch makes the funds accessible to eligible clients using Solana, but the firm has not disclosed expected capital inflows for the deployment. The funds have different structures and stated purposes. MONY, the My OnChain Net Yield Fund, is a Rule 506(c) private placement offering eligible investors exposure to U.S. dollar-denominated yields. JLTXX, the JPMorgan OnChain Liquidity-Token Money Market Fund, is a U.S.-registered government money market fund designed to support stablecoin issuers. JPMorgan has described the multichain approach as serving clients that operate across different blockchain networks. Fund shares are...