JPMorgan Chase is preparing to launch a new tokenized money market fund, highlighting the growing push by major financial institutions to bring traditional financial products onto blockchain networks. According to a recent filing with the U.S. Securities and Exchange Commission (SEC), the banking giant plans to introduce the JPMorgan OnChain Liquidity-Token Money Market Fund (JLTXX), a blockchain-powered investment vehicle focused on short-term U.S. Treasuries, cash, and overnight repurchase agreements backed by government securities.
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