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JPMorgan has filed to launch JLTXX, the JPMorgan OnChain Liquidity-Token Money Market Fund, on Ethereum — a tokenized vehicle designed to invest exclusively in U.S. Treasury securities and overnight repurchase agreements fully collateralized by U.S. Treasurys and/or cash.
The fund's stated purpose goes beyond yield: it is explicitly designed to satisfy eligible reserve asset requirements for stablecoin issuers under the GENIUS Act, the pending U.S. stablecoin legislation that would mandate high-quality liquid assets as backing. That positions JLTXX as infrastructure for the next generation of regulated stablecoins, not just another tokenized Treasury product.
JPMorgan is not new to this space — the bank launched its first tokenized money market fund, MONY, on Ethereum last year. JLTXX represents a deliberate expansion of that on-chain strategy, timed to the regulatory framework taking…
Frequently asked questions
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How does JLTXX meet the requirements of the GENIUS Act for stablecoin issuers?
JLTXX is designed to satisfy eligible reserve asset requirements for stablecoin issuers by investing in U.S. Treasury securities and overnight repurchase agreements that are fully collateralized, aligning with the standards set by the pending GENIUS Act.
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What distinguishes JLTXX from JPMorgan's previous tokenized fund, MONY?
JLTXX represents an expansion of JPMorgan's on-chain strategy, specifically tailored to serve as infrastructure for regulated stablecoins, whereas MONY was a more general tokenized money market fund.
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