J.P. Morgan Asset Management said qualified U.S. investors can now access its MONY and JLTXX tokenized money market funds on Solana through the Morgan Money platform. Investors can subscribe and redeem through the platform, with their fund balances represented at blockchain addresses. The expansion adds a network for accessing existing fund strategies, rather than creating new ones.
MONY is a private placement under Rule 506(c) with eligibility restrictions. JLTXX is a U.S.-registered government money market fund. Both are fund interests, not bank accounts or FDIC-insured deposits; they can lose money, and using a blockchain does not remove their redemption restrictions.
