JPMorgan Chase Files for Blockchain-Based Money Market Fund

JPMorgan Chase has submitted an application to the U.S. Securities and Exchange Commission for a blockchain-based money market fund. According to NS3.AI, the fund is designed to cater to stablecoin issuers, utilizing Kinexys Digital Assets infrastructure within a permissioned system on public blockchains. The filing indicates that one or more stablecoin issuers are anticipated to hold fund shares as reserve assets to support their stablecoins.