Official announcements from financial institutions or financial news outlets

JPMorgan Tokenizes Fidelity Money Market Fund on TCN Blockchain, Market Cap Exceeds $1.5B

Jun 10, 2024, 04:01 PM

JPMorgan has successfully tokenized a money market fund of Fidelity International using its proprietary blockchain technology, TCN. This move signifies a significant step in the tokenization of financial assets, a trend that is rapidly gaining traction in the financial industry. The total market capitalization for tokenized treasuries has now exceeded $1.5 billion, with BlackRock and Franklin Templeton leading the way in 2024. Experts like Sergey Nazarov of Chainlink believe that the complete tokenization of value, from equities to private equity and commodities, is inevitable and represents a major shift in how value is managed. The ticker symbol for JPMorgan is $JPM.