- Institutional Briefing
- Posts
- JPMorgan Settles Tokenised Fund Trade on Public Blockchain
JPMorgan Settles Tokenised Fund Trade on Public Blockchain
JPMorgan’s Kinexys links up with Ondo and Chainlink to execute a public chain settlement for tokenized money market funds.
Louis Tellier & Maximilian Vargas
May 15, 2025
It was a bit of a head-turner yesterday when JPMorgan announced it had tested its first tokenized asset transaction on a public blockchain.
Funny how Dimon keeps dunking on crypto in public while his team quietly builds the pipes in the background, as others are still stuck arguing about regulation. More on that below.
Here’s what else we’re covering today:
VanEck launches tokenized money market fund
SEC tokenization roundtable: key takeaways
Chat with BitGo COO about MiCA license
Forwarded this email? Subscribe here for more.
NEWS FLASH
Regulation
BitGo obtains its MiCA license from BaFin (Germany). This allows the company to offer crypto custody and transfer services for clients across all EU countries. Scroll down for our Proof of Talk with COO Jody Mettler, where she shares more on BitGo’s EU game plan and MiCA priorities.✅
OCC clarifies banks can offer crypto custody and execution. A new interpretive letter confirms U.S. national banks may custody crypto and execute trades on behalf of clients, including via sub-custodians, as long as risk controls are in place.📄
Tokenization
NY Fed and BIS test tokenized tools for monetary policy. Yesterday, the Federal Reserve Bank of New York and the BIS published a joint study on how central banks could implement monetary policy in a future financial system shaped by widespread tokenization.🧪
Hong Kong arm of China’s top broker to issue tokenized securities. Guotai Junan International plans to launch tokenized products using DLT for issuance, trading, and custody, aligning with China’s goal to build global investment powerhouses by 2035.🇨🇳
VanEck launches tokenized money market fund with Securitize. The VBILL fund will be available to qualified investors via Avalanche, BNB Chain, and Solana (min. $100K) and on Ethereum (min. $1M), with Securitize serving as transfer agent and admin.💸
Lugano issues fourth natively digital bond via SNB’s Project Helvetia. The 100M CHF bond is listed on SIX Swiss Exchange, with issuance and custody handled by SDX. It settles in wholesale CBDC as part of the Swiss National Bank’s Project Helvetia Phase III.🇨🇭
TOKENIZATION
JPMorgan Settles Tokenised Fund Trade on Public Blockchain
A new frontier: Yesterday, Ondo Finance, Chainlink, and JPMorgan announced a new interoperability milestone: for the first time, JPMorgan’s Kinexys Digital Payments (formerly JPM Coin) was used to settle a delivery-versus-payment (DvP) transaction for a tokenized asset issued on a public blockchain.
How the flow worked:
Reply