JPMorgan Takes Money Markets Onchain With Ethereum Launch

 

JPMorgan Chase is stepping deeper into blockchain finance, this time with a product that looks very familiar to Wall Street.

The bank has launched a tokenized money-market fund on Ethereum, marking one of the clearest signs yet that large financial institutions are moving beyond experiments and into real onchain products designed for investors.

The fund, called My OnChain Net Yield, or MONY, is a private money-market vehicle issued by JPMorgan Asset Management. It is seeded with $100 million of the bank’s own capital and is aimed squarely at institutional clients and high-net-worth investors, not crypto traders chasing volatility.

In simple terms, it is a traditional money-market fund, but the ownership lives on a blockchain.

 

A Familiar Product, Delivered Differently

Money-market funds are among the most conservative products in finance. They invest in short-term, high-quality debt and are used by institutions to park cash, manage liquidity, and earn modest yield.

JPMorgan is not changing that formula. What it is changing is how the fund is issued, held, and transferred.

Instead of relying solely on traditional fund administration systems, MONY issues digital tokens on Ethereum that represent ownership in the fund. Investors can subscribe using cash or stablecoins and receive tokenized shares that can be held in compatible digital wallets.

The pitch is efficiency. Blockchain settlement can be faster, more transparent, and easier to integrate with other digital financial tools. For large investors managing billions in cash, shaving time and operational friction matters.

 

Why Ethereum, Why Now

Ethereum has become the default blockchain for large financial institutions experimenting with tokenization. It offers a mature ecosystem, deep liquidity, and a growing set of standards for issuing real-world assets onchain.

Timing also plays a role. Tokenized funds have gained momentum over the past year as interest rates remain elevated and investors search for safe yield options that can operate alongside digital assets.

Stablecoins now move enormous sums across blockchains, but they typically do not pay interest. Tokenized money-market funds fill that gap, allowing capital to stay onchain while earning yield backed by regulated assets. That combination is proving difficult for institutions to ignore.

JPMorgan has framed the move as a response to client demand rather than a bet on crypto prices. The goal is infrastructure, not speculation.

 

Growing Appetite for Tokenization and Real-World Assets

Behind JPMorgan’s move is a surge in client interest that has been building quietly.

“There is a massive amount of interest from clients around tokenization,” said John Donohue, who leads liquidity at JPMorgan Asset Management. The firm expects to be a leader in the space and to give investors the same range of choices on blockchain that they already have in traditional money-market funds.

That demand is arriving as the regulatory picture in the U.S. begins to look more settled. Policymakers have taken steps this year to clarify how digital asset activity fits within the existing financial system. New rules around dollar-backed stablecoins and clearer signals on oversight of blockchain-based products have reduced some of the uncertainty that previously kept large institutions cautious.

Those changes have encouraged banks and asset managers to move faster on tokenization initiatives across funds, securities, and other real-world assets.

The market reflects that shift. The total value of tokenized real-world assets reached roughly $38 billion in 2025, a record level. Tokenized money-market funds have been particularly attractive to crypto-native investors, offering a way to earn yield without leaving the blockchain or converting assets back into traditional cash accounts.

 

 

A Crowded Field Is Taking Shape

JPMorgan’s launch places it alongside a growing group of large financial firms experimenting with tokenized funds.

BlackRock operates the largest tokenized money-market fund, with assets already measured in the billions. Goldman Sachs and Bank of New York Mellon have also outlined plans to issue digital tokens tied to money-market products from major asset managers. At the same time, crypto exchanges have begun rolling out tokenized stocks and other securities in select markets.

What was once a collection of pilot programs is turning into a competitive landscape.

 

The Quiet Bet Behind the Headlines

There is a longer-term bet embedded in JPMorgan’s move. If financial assets increasingly live onchain, money-market funds could become core building blocks of a new financial stack.

Tokenized cash can be used as collateral, settle instantly, and plug into automated systems that move value without waiting for bank cut-off times or settlement windows.

That future is still taking shape, and it will not arrive overnight. But moves like this bring it closer, one conservative product at a time.

For JPMorgan, MONY is not a moonshot. It is something more deliberate. Take a product Wall Street already trusts, put it on new rails, and see where efficiency leads.

 

That approach may end up being the most convincing case yet for blockchain finance inside traditional markets.

 

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Ripple Raises $500 Million at $40 Billion Valuation, Signaling Surging Institutional Confidence in Crypto

 

Ripple Labs has announced a landmark $500 million fundraising round led by affiliates of Fortress Investment Group and Citadel Securities, propelling its valuation to approximately $40 billion. The raise cements Ripple’s position among the most valuable private blockchain companies in the world and underscores a powerful shift in institutional sentiment toward digital assets and crypto infrastructure.

Major participants in the round reportedly include heavyweight firms such as Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace, marking one of the most significant institutional-backed financings in the digital asset sector to date. Ripple’s leadership described the round as “a signal that blockchain infrastructure is moving from experimentation to mainstream adoption.”

 

A Strategic Expansion Beyond Payments

Ripple’s identity has long been associated with its cross-border payment technology and the XRP Ledger, but the company has spent the past several years expanding its footprint into institutional finance and enterprise-grade blockchain infrastructure.

This raise is intended to accelerate that strategy. Ripple plans to deploy the new capital across several key business segments, including stablecoin development, digital asset custody, prime brokerage services, and enterprise treasury solutions.

CEO Brad Garlinghouse noted that the company’s focus now extends far beyond the XRP token, emphasizing Ripple’s ambition to build “the next-generation infrastructure for global value exchange.”

Ripple has already launched its U.S. dollar stablecoin, RLUSD, which recently surpassed $1 billion in circulation, and the company’s acquisition of Metaco earlier this year established its presence in institutional digital asset custody. The new capital will help scale both of these ventures, as well as expand Ripple’s global payments and liquidity network, which has already processed nearly $100 billion in volume this year.

 

A Bullish Signal for Institutional Crypto Adoption

The participation of global financial powerhouses such as Fortress and Citadel is a major signal for the broader crypto market. It represents a notable shift from skepticism to conviction among traditional finance institutions, many of which are now actively positioning for the tokenization of assets, the growth of stablecoins, and blockchain-enabled payments.

The timing of the raise also reflects a broader resurgence of confidence in digital assets. Bitcoin’s continued strength above six figures, renewed attention on real-world asset tokenization, and rising institutional demand for compliant crypto infrastructure have all contributed to a more mature and sustainable growth environment.

Ripple’s successful raise at such a high valuation suggests that institutional investors see the company not merely as a crypto firm, but as a core component of global financial modernization. It represents the convergence of blockchain technology and traditional finance, a theme that has gained enormous traction as banks, funds, and corporates explore on-chain settlement and tokenized instruments.

 

Ripple’s Expanding Role in the Financial Ecosystem

The new capital positions Ripple to strengthen its role as a trusted partner for banks, governments, and enterprises looking to bridge traditional financial systems with blockchain innovation.

The company’s growing suite of products—ranging from cross-border payment solutions to custody, stablecoin issuance, and liquidity management—makes Ripple one of the few blockchain firms offering an institutional-grade platform that can integrate directly with existing financial infrastructure.

Ripple’s continued collaboration with regulators and financial institutions has also helped build credibility at a time when compliance and governance are key differentiators. Its ability to maintain relationships with central banks, sovereign partners, and large enterprises gives it a unique advantage as the financial industry transitions into tokenized models.

 

The Broader Message for the Crypto Industry

Ripple’s raise is more than a company milestone—it is a reflection of the growing institutionalization of crypto and blockchain technology. The same financial institutions that once viewed digital assets with caution are now leading billion-dollar funding rounds and integrating blockchain rails into their own operations.

This is part of a wider trend reshaping global finance. The lines between traditional banking, fintech, and crypto are blurring, and firms like Ripple are at the center of this transformation. As capital markets evolve toward digital-native assets, the companies that provide trust, scalability, and compliance will become the foundation of the next financial era.

Institutional investors increasingly view blockchain infrastructure as essential, not experimental. Ripple’s $40 billion valuation confirms that belief, underscoring the market’s confidence in the future of regulated, enterprise-grade crypto solutions.

 

Final Thoughts

Ripple’s $500 million raise represents a turning point not only for the company but for the broader digital asset industry. With leading global financial institutions now backing its vision, Ripple is positioned to become a cornerstone of blockchain-powered finance.

The company’s expansion into stablecoins, custody, and institutional liquidity services shows that it is evolving into a full-stack financial technology provider capable of powering the next generation of value exchange.

For the crypto ecosystem, this moment carries a clear message: institutional adoption is no longer theoretical—it is happening. Ripple’s success highlights how established players in finance are no longer standing on the sidelines but are actively investing in and shaping the future of blockchain infrastructure.

 

As capital flows, partnerships grow, and regulatory clarity improves, Ripple’s rise reflects the dawn of a more connected, compliant, and credible era for global crypto finance.

 

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Coinbase and Citi Join Forces to Advance Stablecoin Payments for Institutions

A new chapter in institutional digital asset adoption and payment innovation

In a significant step for the convergence of traditional finance and crypto, Citigroup and Coinbase have partnered to explore digital payment solutions using stablecoins and blockchain infrastructure for Citi’s corporate and institutional clients. This collaboration highlights how digital assets are shifting from speculative use to becoming core financial tools.

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What’s Happening

Citigroup and Coinbase are working together to develop digital asset payment capabilities for Citi’s institutional clients. The initiative focuses on simplifying fiat-to-crypto conversions, enabling payouts through stablecoins, and supporting faster, cheaper cross-border transactions using blockchain technology.

For Coinbase, this partnership represents another step in its expansion beyond retail crypto trading into enterprise-grade financial infrastructure. For Citi, it reflects an ongoing commitment to digital innovation, with efforts in stablecoin issuance, tokenized deposits, and blockchain settlement systems.

This partnership is not just about crypto payments. It is about transforming how large financial institutions handle liquidity, treasury operations, and settlement in a global economy that increasingly values speed and transparency.

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Why This Matters

1. Digital Assets Move Toward the Financial Mainstream

Just a few years ago, most major banks treated digital assets cautiously. Now, one of the world’s largest banks is partnering with a leading crypto exchange to bring stablecoins into its payments network. This shows that digital assets are maturing into real financial infrastructure.

2. Stablecoins Gain Institutional Utility

Stablecoins are evolving beyond their original use in trading and DeFi. They are now being used for corporate payments, treasury management, and international settlements. Citi and Coinbase are helping push this transition, turning stablecoins into practical tools for global finance.

3. Payment Systems Get a Modern Upgrade

Traditional payment networks can be slow and expensive, often operating only during business hours. Stablecoin transactions on blockchain networks are fast, borderless, and available 24/7. For institutions, that means better liquidity management and reduced friction in cross-border transactions.

4. Banks Are Embracing Partnerships Over Isolation

Rather than developing everything internally, banks like Citi are forming partnerships with crypto-native firms that already understand blockchain technology and digital infrastructure. This approach combines the scale and regulatory experience of traditional banks with the innovation and speed of crypto companies.

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The Bigger Picture: Why Now

Several industry and regulatory trends make this collaboration especially timely:

• Regulatory Clarity: Governments and financial authorities are providing more defined frameworks for stablecoins, making it easier for banks to adopt them responsibly.

• Stablecoin Growth: Industry research suggests that stablecoins could become a multi-trillion-dollar asset class by the end of the decade, transforming how global businesses move money.

• Pressure to Innovate: Legacy payment systems are under increasing pressure to modernize. Banks that adopt blockchain rails early will have a competitive advantage in speed and cost efficiency.

• Partnership-Driven Innovation: The financial world is realizing that collaboration with crypto-native companies is faster and more efficient than building new systems alone.

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Challenges and What to Watch

While the partnership is promising, several challenges lie ahead:

• Scalability: Turning small pilot projects into large-scale enterprise systems will require significant integration with existing banking infrastructure.

• Compliance: Even with clearer regulations, stablecoin payments must meet strict requirements for anti-money-laundering controls, reserves, and audits.

• Revenue Impact: If blockchain-based payments significantly reduce transaction costs, banks will need to rethink existing fee structures and profit models.

• Interoperability: Connecting blockchain rails with legacy systems introduces technical and security complexities that must be addressed.

• Global Consistency: Citi operates across many jurisdictions, and stablecoin adoption depends on how each region’s regulators treat digital assets.

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The Future of Institutional Payments

The collaboration between Coinbase and Citi marks an important moment in the evolution of digital payments and finance. Stablecoins are no longer just a crypto experiment. They are being recognized as real financial instruments that can enhance efficiency, reduce costs, and streamline settlement for global institutions.

This partnership shows the growing alignment between traditional finance and decentralized technology. As more banks and crypto platforms work together, the boundaries between the two worlds are fading. The next era of payments may be powered by stablecoins and tokenized assets, operating on blockchain rails that never sleep.

 

If successful, the Coinbase–Citi partnership could pave the way for faster global payments, smarter liquidity management, and a more inclusive financial system. The message is clear: the future of money is programmable, and institutions are already laying the groundwork to make it real.

 

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JPMorgan Embraces Crypto Collateral: A Major Shift in Banking

JPMorgan Chase is preparing to allow institutional clients to use Bitcoin and Ethereum holdings as collateral for loans. This move, expected by year-end, marks a decisive pivot from the bank’s earlier skeptical stance toward cryptocurrencies.
Reports from Bloomberg, CoinDesk and others indicate the program will rely on third-party custody for the pledged assets and extends JPMorgan’s earlier acceptance of crypto-linked ETFs as collateral.

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Why This Matters

From Skeptic to Adopter

CEO Jamie Dimon long dismissed Bitcoin—calling it “worthless” or a “pet rock”—yet this policy change suggests a hard turn by JPMorgan toward crypto integration.
This is not about hype. It’s about a bank with over $4 trillion in assets formally recognising crypto as part of its credit infrastructure.

Crypto Moves Into the Core System

Traditionally, banks only accepted highly liquid, low-volatility assets as loan collateral. Bitcoin and Ethereum are neither of those. So JPMorgan’s interest signals crypto is being treated more like mainstream assets—albeit with special guardrails.
Financial institutions now appear ready to unlock liquidity for clients who hold crypto without forcing them to sell. This could reshape how crypto assets are used in major portfolios and by large institutions.

Implications for Institutions and Investors

• Liquidity without selling: Crypto holders can pledge assets as collateral instead of selling, preserving upside while accessing cash.

• Broader adoption: Large banks entering the space bring legitimacy and infrastructure—moving crypto further toward the mainstream.

• Competitive pressure: If JPMorgan rolls this out, other banks will likely follow, accelerating institutional crypto services.

• Regulatory interplay: The move aligns with a more friendly regulatory tone in Washington and signals that banks believe the legal risks are manageable.

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Key Details of the Proposal

• Institutionally focused: The offering is targeted at institutional clients, not retail.

• Third-Party Custody Model: Crypto pledged will be held by an approved external custodian, so the bank avoids direct asset custody.

• Global Scope: The program is expected to launch “by end of year” across relevant jurisdictions, though final details remain subject to change.

• Extension from ETFs: Earlier this year, JPMorgan accepted crypto-linked ETFs as loan collateral. This step advances directly to underlying crypto assets.

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What to Watch Moving Forward

1. Launch Date and Terms: When exactly will the program go live and on what terms (loan-to-value ratios, margin calls, etc.)?

2. Asset Coverage: Will it start with Bitcoin and Ethereum only, or eventually include other major tokens?

3. Risk Framework: How will JPMorgan manage volatility, liquidation risk, custody failure and regulatory oversight?

4. Market Reaction: Will this spur greater institutional crypto investment and service offerings from banks, or will it prompt caution due to the novelty of crypto as collateral?

5. Competitive Impact: Which banks follow JPMorgan’s lead and how fast will the industry evolve?

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Final Thoughts

 

JPMorgan’s plan to allow Bitcoin and Ethereum as loan collateral is a landmark for the crypto-banking crossover. It reflects growing confidence in digital assets, regulatory progress and the adoption of the crypto industry.
For crypto investors, this is a strong signal: the era of fringe use-cases is fading, and crypto is increasingly being integrated into core financial services. For the banking sector, it marks the beginning of a new chapter where digital assets may become standard tools in credit and liquidity management.
The details still matter—but the direction is clear. Crypto is stepping firmly into the mainstream.

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