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JPMorgan Chase Files SEC Application for Blockchain Money Market Fund Targeting Stablecoin Issuers

GateNews
Partnerships & EcosystemStocks
JPM-0.03%
BASED11.15%
KDA-5.12%
ON-0.79%

JPMorgan Chase has filed an application with the U.S. Securities and Exchange Commission (SEC) for a blockchain-based money market fund designed to serve stablecoin issuers, according to the filing.

The fund would use blockchain infrastructure developed by Kinexys Digital Assets (KDA), a JPMorgan business unit, operating as a permissioned system layered on public blockchains. Fund shares are expected to be held by stablecoin issuers as reserve assets backing their issued stablecoins to customers.

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