tldr; JPMorgan Chase has launched MONY, a tokenized money market fund on Ethereum, marking a significant shift in Wall Street’s approach to blockchain technology. MONY allows qualified investors to earn yield on short-term US Treasuries with daily payouts recorded on-chain, enabling near real-time settlement and programmable ownership. This move signals the growing adoption of tokenized finance by major institutions, despite current limitations like restricted access for retail investors and limited secondary market liquidity. The initiative highlights blockchain’s potential to transform financial systems.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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I thought Dimon hated crypto? How the turn tables 😏
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tldr; JPMorgan Chase has launched MONY, a tokenized money market fund on Ethereum, marking a significant shift in Wall Street’s approach to blockchain technology. MONY allows qualified investors to earn yield on short-term US Treasuries with daily payouts recorded on-chain, enabling near real-time settlement and programmable ownership. This move signals the growing adoption of tokenized finance by major institutions, despite current limitations like restricted access for retail investors and limited secondary market liquidity. The initiative highlights blockchain’s potential to transform financial systems.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
I thought Dimon hated crypto? How the turn tables 😏