Editor's PiCK
"JP Morgan plans to launch tokenized money market fund on Ethereum…to inject $100 million in initial capital"
Minseung Kang
Summary
- JP Morgan plans to launch a tokenized money market fund operated on the Ethereum blockchain.
- The product will be offered as a private placement for eligible investors.
- JP Morgan said it will inject $100 million as initial seed money.
Major American investment bank JP Morgan is reportedly planning to launch a tokenized money market fund (MMF) operated on the Ethereum (ETH) blockchain.
On the 15th, according to crypto-focused media O'Daily, the Wall Street Journal (WSJ) reported, "JP Morgan plans to launch its first tokenized money market fund on the Ethereum network." The fund will be a private placement product and will be operated for eligible investors.
JP Morgan plans to inject $100 million of its own funds as seed money to initially operate the fund.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
!['Easy money is over' as Trump pick triggers turmoil…Bitcoin tumbles too [Bin Nansa’s Wall Street, No Gaps]](https://media.bloomingbit.io/PROD/news/c5552397-3200-4794-a27b-2fabde64d4e2.webp?w=250)
![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)
