Fidelity International Tokenizes Money Market Fund on JPMorgan's Blockchain

Fidelity International has partnered with JPMorgan's Onyx Digital Assets to tokenize a money market fund, enabling improved efficiency in margin requirements while reducing transaction costs and operational risk.

The tokenization process involved connecting the fund's transfer agent (JPMorgan) with the Tokenized Collateral Network (TCN), a platform built on JPMorgan's Ethereum-based private blockchain network. Tokenization, the representation of real-world assets as digital tokens on a blockchain, has become a focus for JPMorgan, with Fidelity International also actively exploring its potential.

Key Highlights:

• Fidelity International tokenized shares in a money market fund using JPMorgan's Onyx Digital Assets blockchain.
• Tokenization enables instant settlements and reduces transaction costs and risks.
• JPMorgan's TCN facilitates the use of tokenized assets as collateral across different asset classes.
• Fidelity's participation brings new opportunities to the TCN network.

This initiative highlights the growing adoption of tokenization in traditional finance, with Fidelity International being at the forefront of this innovation.