JPMorgan Chase has submitted an application by the US Securities and Exchange Commission to a blockchain-based money market fund designed for stablecoin issuers.
According to reservationThe fund will use the blockchain infrastructure developed by Kinexys Digital Assets (KDA), a business unit within JPMorgan Chase Bank, NA.
The filing states that the fund “uses blockchain technology to provide a means for investors to provide sensitive advice” about the fund’s shares through blockchain.
The filing says the blockchain framework is “created, deployed, and maintained” by the KDA and serves as a permissioned system on top of public blockchains.
JPMorgan said the plan includes “strategies, procedures, and technical controls” aimed at ensuring that transactions remain under the Fund’s “full control and supervision.”
The program also shows the role that stablecoin issuers can play in transactions.
According to the filing, shares of the fund “are expected to be held by one or more stablecoin issuers as all or part of the depository products offered to their customers.”
This architecture reflects interest from major financial institutions in integrating blockchain technology into traditional financial and stablecoin infrastructure.
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