PANews reported on May 13th that, according to The Block, JPMorgan Chase is launching its second tokenized money market fund, based on documents filed on Tuesday, to meet the reserve asset requirements for stablecoin issuers under the GENIUS Act. The fund, named OnChain Liquidity-Token Money Market Fund (ticker symbol JLTXX), will be tokenized on the Ethereum blockchain and will invest in U.S. Treasury bonds and overnight repurchase agreements secured by Treasury bonds or cash. The blockchain technology is managed by Kinexys Digital Assets, a JPMorgan Chase subsidiary. The SEC filing will take effect on May 13th, but JPMorgan Chase has not disclosed a specific launch date.

JLTXX is JPMorgan Chase's second tokenized money market fund launched on Ethereum, following the MONY fund launched at the end of last year. The MONY fund primarily targets institutional investors seeking on-chain cash management products.