JP Morgan is quietly taking the lead in on-chain cryptocurrency banking thanks to Ethereum.

JP Morgan has launched its first Tokenize money fund on Ethereum, marking a public move into on-chain finance by a major global bank.

This move follows the issuance of $50 million in promissory notes on Solana, demonstrating that the multi- chain strategy is being implemented in practice, with a clear separation: Ethereum for the income-generating fund, Solana for corporate debt.

JP Morgan launches Tokenize money fund on Ethereum.

MONY is a Tokenize money fund issued on Ethereum, distributed to eligible investors through Morgan Money. The fund invests in U.S. Treasury bonds and fully collateralized repos, with Token representing shares held directly at the investor's blockchain address. Announcement .

To monitor Derivative volatility and liquidation supporting the valuation of Tokenize assets, traders can leverage tools and privileges at BingX to observe funding, liquidations, and market depth as on-chain enter real-world trading.

Issuing $50 million in promissory notes on Solana confirms multi- chain roadmap.

JP Morgan arranged for the issuance of $50 million in commercial paper to Galaxy Digital on Solana, executing a DvP and conversion line in USDC; Coinbase and Franklin Templeton were the principal buyers. This was one of the first corporate debt cases to be issued and repaid entirely on a public blockchain.

Solana trading demonstrates high throughput for real-time operations, while Ethereum provides security and a deep ecosystem for profit-making tools. This role- Vai optimizes order execution, costs, and organizational infrastructure integration.

The DvP model with USDC limits cross-settlement risks while shortening the transaction lifecycle. The role of institutional buyers like Coinbase and Franklin Templeton demonstrates the real demand on the demand side for Tokenize debt asset classes.

Choosing a public network affirms the trend toward open infrastructure.

The preference for public blockchains over private enterprise networks signals that the next financial infrastructure will be based on an open payments layer. Solana is suitable for real-time Capital market applications; Ethereum is suitable for deploying institutional yield tools.

MONY marks the first time a major global bank has launched a Tokenize money fund on a chain . With Morgan Money supporting both traditional and on-chain instruments, investors can deposit/withdraw using fiat currency or stablecoins, bringing the money fund closer to institutional stablecoin liquidation .

JP Morgan's leadership stated that demand for Tokenize assets is increasing, along with a trend towards more efficient infrastructure. The bank expects other GSIBs to follow suit, expanding their product range and standardizing on-chain processes.

A strategic turning point after years of experimentation.

JP Morgan has moved beyond its own systems like Onyx or its closed alliances, now executing real transactions on Ethereum and Solana on a significant scale.

Commercial paper on Solana demonstrates that a public network can support the institutional debt market. MONY shows that yield instruments are issued, transferred, and converted on-chain similarly to traditional funds but leverage the advantage of real-time settlement.

The combination of these two moves shows that JP Morgan is forming the first multi- chain institutional finance “stack,” systematically separating each network based on its strengths to optimize operations and compliance.

Final assessment

Bringing Tokenize funds and corporate debt to Ethereum and Solana reflects JP Morgan's long-term vision for open financial infrastructure, with rapid deployment and an operating framework that meets institutional standards.

• Deploying a live product on a public chain is a deliberate strategic shift.
• This bank is becoming a pioneer in adopting on-chain Capital markets.

Frequently Asked Questions

What is MONY and who can invest in it?

MONY is a Tokenize money fund on Ethereum, distributed via Morgan Money to eligible investors. The Token representing the stake are held directly at the investor's blockchain address.

Why does JP Morgan use Solana for debt and Ethereum for its fund?

Solana has high throughput, suitable for real-time Capital trading and DvP; Ethereum has security and a deep ecosystem, suitable for institutional yield instruments such as money market funds.

Can investors register or redeem their shares using stablecoins?

Yes. Morgan Money supports both traditional and on-chain tools, allowing registration and redemption using fiat currency or stablecoins.

Who was the primary buyer in the $50 million promissory note transaction?

Coinbase and Franklin Templeton were the primary buyers in the transaction launched on Solana.