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OnChain is an on-chain capital markets investment platform, designed to meet the one-stop global asset allocation needs of on-chain clients. It will offer financial products including money market funds, investment-grade bond funds, and non-standard fixed-income public/private products.
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SEC Allows Franklin Templeton Funds to Invest in Its On-Chain Money Market Fund
Odaily News: The U.S. Securities and Exchange Commission (SEC) stated it will not take enforcement action if asset management firm Franklin Templeton fund managers invest cash into its Franklin OnChain U.S. Government Money Fund. The fund invests in U.S. government securities and aims to maintain a price of $1 per share. The SEC also allowed affiliated transfer agent Franklin Templeton Investor Services (FTIS) to serve as custodian for the tokenized fund and hold private keys, without needing to comply with existing physical custody rules. The arrangement includes 12 conditions, requiring Franklin Templeton to prevent unauthorized instructions and requiring FTIS to have management controls capable of correcting, freezing, migrating, or recovering records. Data shows that Franklin Templeton manages $2.5 billion in on-chain assets through its tokenized fund, ranking fifth among tokenized asset managers. The company established a dedicated crypto business unit in June and acquired crypto asset management firm 250 Digital. (Cointelegraph)
JPMorgan Chase Files to Launch Tokenized Money Market Fund JLTXX on Ethereum
JPMorgan Chase has filed an application to launch a tokenized money market fund, JLTXX, on the Ethereum blockchain. Officially named the JPMorgan OnChain Liquidity-Token Money Market Fund, this fund will invest exclusively in US Treasuries and overnight repurchase agreements fully collateralized by US Treasuries or cash. It is designed to meet the eligible reserve asset requirements for stablecoin issuers under the GENIUS Act.Last year, JPMorgan launched its first tokenized money market fund, MONY, on Ethereum.
JPMorgan Submits Application for Tokenized Fund, Further Increasing Its Investment in Cryptocurrencies
According to Bloomberg, JPMorgan’s Asset Management division has filed its second application for a tokenized money market fund—the JPMorgan Chase OnChain Liquidity Token Money Market Fund (ticker: JLTXX). The filing states that the fund will issue digital tokens on the Ethereum blockchain, representing shares in its underlying portfolio of U.S. Treasury securities and repurchase agreements. This move signals JPMorgan’s continued expansion into blockchain-based financial products.