JPMorgan: Yield-bearing Stablecoins Risk a “Dangerous Parallel Banking System”
JPMorgan Chase CFO Jeremy Barnum warned on that yield-bearing stablecoins could “create a dangerous parallel banking system,” arguing they replicate deposit-like behavior without the prudential safeguards banks must carry.
JPMorgan launches tokenized money market fund on Ethereum as Wall Street moves onchain
JPMorgan Chase is taking another concrete step into blockchain-based finance, rolling out a tokenized money market fund on the Ethereum network. The initiative introduces the My OnChain Net Yield Fund, or MONY, seeded with an initial $100 million and framed as evidence that Wall Street is moving onchain. For observers tracking tokenization’s trajectory, a mainstream […]