J.P. Morgan Asset Management has officially expanded two of its tokenized money market fund products, MONY and JLTXX, to the Solana blockchain network via the Morgan Money platform. The service is open exclusively to accredited investors and institutions in the United States. Both subscription and redemption mechanisms are settled directly to investors’ blockchain wallet addresses.
JPMorgan’s Head of Product Digital and Tokenized Assets, Paul Przybylski, stated that this move is aimed at enabling client liquidity to operate flexibly across blockchain networks. Before arriving on Solana, MONY first launched on the Ethereum blockchain in December 2025. In that initial debut, JPMorgan’s Kinexys division injected $100 million in internal seed capital.
MONY Portfolio Structure and JLTXX’s Specialized Mandate
To access the MONY product, investors must meet a minimum initial investment threshold of $1 million with an annual fee of 16 basis points - equivalent to 0.16%. In terms of asset allocation, MONY holds US Treasury instruments and repurchase agreements with maturities of 93 days or less. This short-term asset composition is designed to maintain net asset value stability at $1 per unit.
Unlike MONY, which targets general liquidity, the second instrument, JLTXX, is tailored with a specialized function. The fund is a registered government money market fund designed to support stablecoin issuers. Through JLTXX, stablecoin managers can handle their reserve assets to comply with the regulatory provisions of the GENIUS Act in the United States.
Offchain Share Registry and BlackRock’s Footsteps
Although token transactions run on the Solana network, the legal structure of asset ownership still relies on traditional banking mechanisms. The official share ownership records for both funds remain managed offchain by transfer agent SS&C. Token balances sent to an investor’s blockchain wallet address serve as an onchain representation of ownership.
JPMorgan’s expansion follows in the footsteps of BlackRock, which previously brought its BUIDL money market fund to the Solana blockchain in March 2025 via the Securitize platform.
For institutional investors and stablecoin issuers in the United States, the arrival of MONY and JLTXX on Solana facilitates direct transactions via digital wallet addresses, while official share ownership status continues to be maintained by an offchain transfer agent.
Reported by crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
