JPMorgan launches its first tokenized money market fund, injecting $100 million as startup capital

According to the Wall Street Journal, JPMorgan Chase has officially launched its first tokenized money market fund, marking an important step for the banking giant in the application of blockchain technology.

The private fund will operate on the Ethereum blockchain and is open to qualified investors. JPMorgan will inject $100 million of its own capital into the fund as startup capital.