Protocols & Policy · Tokenization
J.P. Morgan's asset manager puts two cash funds on Solana
J.P. Morgan Asset Management says its tokenized money market funds MONY and JLTXX, the second built for stablecoin issuers' reserves, are now available on Solana to qualified U.S. investors.
J.P. Morgan's asset-management arm has put two of its money market funds on Solana, a public blockchain. J.P. Morgan Asset Management said on Oct. 22 that the funds, MONY and JLTXX, are "now available on the Solana blockchain to qualified U.S. investors" [1].
A money market fund invests in short-term, low-risk debt and aims to hold a steady value per share. Here the shares are tokenized, meaning ownership is recorded as tokens on a blockchain. Investors subscribe and redeem through the firm's Morgan Money platform and receive "token balances at their blockchain addresses," the release says [1].
The two funds differ. MONY, launched in December 2025, is a private placement open only to qualified investors. JLTXX is a registered government money market fund "designed to invest in a manner to support stablecoin issuers under the GENIUS Act" [1].
That law sets what a payment stablecoin issuer may hold as reserves backing its tokens. The list includes shares of a registered government money market fund invested only in the reserve assets the act lists, such as cash, bank deposits, short-term Treasury bills and overnight repurchase agreements [2]. A fund designed for that use could give issuers a reserve option that can sit on the same chain as their tokens. The release does not say any issuer has bought JLTXX.
"Our clients operate across more than one network, and their liquidity should too," said Paul Przybylski, J.P. Morgan Asset Management's global head of product for digital and tokenized assets [1].
The release names no fees, fund sizes or minimums for the Solana tokens. The next check is the funds' own documents for those terms, and whether any stablecoin issuer reports holding JLTXX.
Sources
- J.P. Morgan Asset Management, "J.P. Morgan Asset Management Expands Access to Its Tokenized Money Market Funds on Solana," PR Newswire, Oct. 22, 2026, 12:00 p.m. ET, https://www.prnewswire.com/news-releases/jp-morgan-asset-management-expands-access-to-its-tokenized-money-market-funds-on-solana-302917188.html, accessed Oct. 22, 2026, 4:23 p.m. ET.
- Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), Pub. L. 119-27, sec. 4(a)(1)(A)(vi), https://www.congress.gov/119/plaws/publ27/PLAW-119publ27.htm, accessed Oct. 22, 2026, 4:23 p.m. ET.
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