J.P. Morgan Asset Management has brought two tokenized money market funds, MONY and JLTXX, to Solana for qualified U.S. investors through its Morgan Money platform.
Summary
- MONY and JLTXX give qualified U.S. investors access to tokenized fund shares on Solana.
- MONY’s existing FAQ lists a $1 million initial investment minimum and offchain shareholder records.
- JLTXX’s May prospectus requires approved wallet addresses for purchases, redemptions and token transfers.
- BlackRock and Franklin Templeton brought their tokenized funds to Solana in 2025.
J.P. Morgan Asset Management said investors can subscribe and redeem through Morgan Money, with token balances sent to their blockchain addresses.
“Our clients operate across more than one network, and their liquidity should too,” said Paul Przybylski, the firm’s global head of product, digital and tokenized assets.
JPMorgan’s MONY fund carries a $1 million entry minimum
JPMorgan’s MONY FAQ lists an initial investment minimum of $1 million and fees of 16 basis points. The document describes a private placement fund domiciled in the British Virgin Islands, with investor onboarding subject to anti-money laundering and know-your-customer checks.
The FAQ says MONY holds U.S. Treasury securities and Treasury-backed repurchase agreements. Its investment guidelines seek a stable $1 net asset value, with Treasury purchases limited to securities with no more than 93 days remaining or issued with maturities of 93 days or less.
Although MONY intends to follow investment guidelines for government money market funds, JPMorgan’s FAQ says the private vehicle is not subject to Rule 2a-7. The document identifies SS&C as the transfer agent and says the official shareholder records remain offchain.
Earlier coverage documented JPMorgan’s $100 million seed investment when MONY launched on Ethereum in December 2025. As crypto.news previously reported, the fund formed part of the bank’s move into public blockchain infrastructure through its Kinexys business.
JPMorgan’s FAQ says investors need their own blockchain address to hold MONY tokens. It permits direct token interactions for transfers and transaction requests, while describing peer-to-peer transfers as restricted to clients. The document predates the Solana expansion and does not establish every operational detail of the new deployment.
The December report described institutional cash management as the product’s intended use. Its $100 million figure referred to initial internal capital, not the amount now held on Solana or MONY’s current total assets.
JLTXX’s filing sets out approved-wallet controls
JPMorgan’s JLTXX filing in May described a registered government money market fund built for stablecoin reserve management. The prospectus dated May 13 listed Ethereum as its only available public network at that time and anticipated support for other blockchains.
The same document required approved addresses before investors could buy, redeem or transfer token balances. Its blockchain framework uses an allow list, restricting transactions to participants approved by the fund.
JLTXX’s prospectus says the transfer agent’s investor register determines legal share ownership. Token balances are intended to correspond to shares, but the document warns that the two records may temporarily differ when blockchain instructions arrive outside business days.
The filing lists a $1 million opening minimum, with no minimum for subsequent purchases, and permits investment minimum waivers. Annual operating expenses after waivers and reimbursements are listed at 0.16%, with those arrangements scheduled through June 30, 2028.
A separate section describes optional services for converting USDC into dollars before purchases and converting redemption proceeds back into USDC. The May coverage noted that Circle is not affiliated with the fund, its adviser or Kinexys.
JPMorgan’s Oct. 22 release describes JLTXX as designed to support stablecoin issuers under the GENIUS Act. It does not disclose current assets for either fund or announce a decentralized lending integration.
BlackRock brought BUIDL to Solana in March 2025
BlackRock’s BUIDL expansion to Solana occurred in March 2025 through Securitize, giving the fund a seventh supported network at the time. The other six were Ethereum, Aptos, Arbitrum, Optimism, Avalanche, Polygon.
Securitize’s launch announcement described a new Solana share class for the BlackRock USD Institutional Digital Liquidity Fund. The company said BUIDL invests in cash, U.S. Treasury bills and repurchase agreements.
The March coverage identified Copper, Anchorage Digital and Fireblocks among BUIDL’s custody providers. It placed the fund’s value at $1.7 billion at that point, a historical figure covering the product rather than its Solana deployment alone.
Franklin’s BENJI uses blockchain-integrated ownership records
Franklin Templeton added Solana support in February 2025 for its Franklin OnChain U.S. Government Money Fund. The earlier deployment report listed Stellar as its original network, followed by expansions across Aptos, Ethereum, Avalanche, Arbitrum, Base and Polygon.
Franklin’s current Benji platform describes one BENJI token as representing one share of the fund, which trades under the FOBXX ticker. Its transfer agent maintains the official ownership record through a proprietary system integrated with public blockchains.
The company’s fund page says at least 99.5% of assets go into government securities, cash and fully collateralized repurchase agreements. It lists daily dividend frequency and an April 6, 2021, inception date.
Effective May 18, 2026, Franklin’s fund page lists Western Asset Management as a new sub-adviser responsible for day-to-day portfolio management. The same notice says the fund normally calculates net asset value hourly from 8 a.m. Eastern until its business-day close and intends to declare and reinvest income dividends daily.
Franklin’s platform timeline records the launch of peer-to-peer transfers for retail investors through its redesigned mobile app in May 2025.
