J.P. Morgan Asset Management has made two of its tokenized money market funds available on the Solana blockchain, adding a second network to products that launched on Ethereum.
The funds are MONY, the My OnChain Net Yield Fund, a private placement for qualified U.S. investors, and JLTXX, the JPMorgan OnChain Liquidity-Token Money Market Fund, a registered U.S. government money market fund. Investors subscribe and redeem through Morgan Money, the firm's cash-management platform, and receive token balances at their own Solana addresses, according to the company's Oct. 22 announcement.
"Our clients operate across more than one network, and their liquidity should too," said Paul Przybylski, global head of product for digital and tokenized assets. J.P. Morgan did not disclose assets in either fund on Solana, subscription volumes or investor numbers.