JPMorgan Launches Tokenized Money Market Fund, Signaling Institutional Shift to Onchain Finance
JPMorgan has launched a tokenized money market fund, allowing institutional investors to access traditional cash-management products through blockchain-based infrastructure. The move highlights how major banks are increasingly using tokenization to improve settlement speed, transparency, and operational efficiency. By bringing regulated money market funds onchain, JPMorgan is bridging traditional finance and digital assets rather than positioning them as competitors. The initiative builds on the bankโs broader blockchain strategy, including Onyx and JPM Coin, which already support tokenized deposits and intraday liquidity. This development also reflects growing institutional demand for low-risk, yield-bearing digital assets. For fintech and capital markets, it marks a significant step toward mainstream adoption of tokenized real-world assets. Overall, it reinforces the idea that tokenization is becoming a core financial infrastructure, not an experimental side project.
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๐๐ง๐๐๐ซ๐ฌ๐ญ๐๐ง๐๐ข๐ง๐ ๐ก๐จ๐ฐ ๐ข๐ง๐๐๐ง๐ญ๐ข๐ฏ๐๐ฌ ๐ฌ๐ก๐๐ฉ๐ ๐ฌ๐ญ๐๐๐ฅ๐๐๐จ๐ข๐ง ๐ข๐ง๐๐ซ๐๐ฌ๐ญ๐ซ๐ฎ๐๐ญ๐ฎ๐ซ๐ ๐๐ก๐จ๐ข๐๐๐ฌ ๐๐ฒ ๐
๐๐ ๐๐ง๐ญ๐๐ฅ๐ฅ๐ข๐ ๐๐ง๐๐
I have been spending a lot of time looking at how companies choose which stablecoins and blockchains to build on. The interesting part is that the decision is rarely only about speed or fees. Incentives play a bigger role than most teams admit.
๐๐๐ซ๐ ๐ข๐ฌ ๐ก๐จ๐ฐ ๐ฒ๐จ๐ฎ ๐๐๐ง ๐ญ๐ก๐ข๐ง๐ค ๐๐๐จ๐ฎ๐ญ ๐ข๐ญ.
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๐. ๐๐ก๐ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ข๐ฌ ๐ฌ๐ญ๐ข๐ฅ๐ฅ ๐๐จ๐ง๐๐๐ง๐ญ๐ซ๐๐ญ๐๐, ๐ฐ๐ก๐ข๐๐ก ๐ฌ๐ก๐๐ฉ๐๐ฌ ๐ฅ๐ข๐ช๐ฎ๐ข๐๐ข๐ญ๐ฒ
Right now, 82% of the entire stablecoin market sits in two assets: USDT at 59% and USDC at 23%.
But it gets even more concentrated when you look at where these assets live.
โข 47% of USDT and 66% of USDC sits on Ethereum
โข 42% of USDT sits on Tron
This means almost one third of all stablecoin value is a single stablecoin on a single chain. Two thirds sits across two stablecoins on two chains.
Liquidity follows concentration. So if you operate outside the big two chains or the big two stablecoins, you need incentives to make your asset or network more attractive.
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๐. ๐๐ง๐๐๐ง๐ญ๐ข๐ฏ๐๐ฌ ๐๐ฑ๐ข๐ฌ๐ญ ๐๐๐๐๐ฎ๐ฌ๐ ๐ฆ๐จ๐ฌ๐ญ ๐๐ก๐๐ข๐ง๐ฌ ๐๐ซ๐ ๐ฌ๐ญ๐ข๐ฅ๐ฅ ๐ฌ๐ฆ๐๐ฅ๐ฅ
Most blockchains and most stablecoins want more volume, more users and more builders. Incentives help accelerate all three.
I tend to put them into two buckets.
-> Direct adoption incentives
These are the simple, front door tactics.
โข Grants to early stage builders that commit to building on a chain
โข Ecosystem funds for tooling, on-ramps and off-ramps
โข Rebates or discounted transaction fees for a set period of time
Solana, Polygon and Stellar all run these kinds of programmes. Coinbase and Mercuryo are doing it right now with USDC on Base.
-> Indirect adoption incentives
These incentives make the stablecoin or chain more appealing to use.
One example is yield sharing. Some issuers keep the full treasury yield for themselves. Others, like Paxos with its Global Dollar Coin, share a portion of it with partners. That creates an economic reason for payment providers to integrate.
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๐. ๐๐ข๐ช๐ฎ๐ข๐๐ข๐ญ๐ฒ ๐ข๐ง๐๐๐ง๐ญ๐ข๐ฏ๐๐ฌ ๐ฆ๐๐ญ๐ญ๐๐ซ ๐๐จ๐ซ ๐๐ซ๐จ๐ฌ๐ฌ-๐๐จ๐ซ๐๐๐ซ ๐ฎ๐ฌ๐ ๐๐๐ฌ๐๐ฌ
Curated News
๐ณ Payments
BPIโs BanKo Partners with ACI Worldwide to Modernize Payments
BPIโs digital bank BanKo is teaming up with ACI Worldwide to upgrade its payments infrastructure. The partnership aims to improve real-time processing, scalability, and reliability for retail transactions. It underscores how digital banks in emerging markets are investing in modern rails to support growth.
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Sunrate Launches Walmart Seller Payment Tool
Sunrate has introduced a new payment solution designed specifically for Walmart marketplace sellers. The tool streamlines cross-border collections and settlement, reducing friction for global merchants. This highlights rising demand for embedded payments in e-commerce ecosystems.
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PayTabs Egypt Partners with Edita to Streamline Distributor Collections
PayTabs Egypt has partnered with FMCG company Edita to digitize distributor payment collections. The solution improves cash flow visibility and reduces reliance on manual processes. It reflects the continued digitization of B2B payments in the Middle East.
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ViaBill Launches Pay Later Instalments on Apple Pay in Denmark
ViaBill has rolled out buy-now-pay-later instalments directly through Apple Pay in Denmark. The integration simplifies BNPL adoption at checkout while leveraging Appleโs ecosystem. It signals continued convergence between wallets and alternative credit.
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EBANX Advances Credit Cards in LatAm with Network Tokenization
EBANX is using network tokenization to enhance cross-border credit card transactions in Latin America. The approach improves approval rates and security for international payments. It demonstrates how tokenization is reshaping traditional card infrastructure.
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๐ฆ Banking
Tieto Banktech Wins Five-Year Core Banking Deal with Cultura Bank
Tieto Banktech has secured a five-year agreement to provide core banking services to Norwayโs Cultura Bank. The deal supports Culturaโs sustainability-focused banking model. It shows continued demand for modern, flexible core platforms among niche banks.
Source
German Regulator Imposes Tighter Oversight on N26
Germanyโs financial watchdog has ordered stricter controls and oversight for digital bank N26. The measures aim to address governance and risk-management concerns. This highlights the increasing regulatory scrutiny faced by fast-growing neobanks.
Source
HSBC Advances Proposed Privatisation of Hang Seng Bank
HSBC and Hang Seng Bank have issued a scheme document outlining the next steps toward privatisation. The move would simplify HSBCโs structure and deepen control over its Asian operations. It reflects broader consolidation trends in global banking.
Source
๐ง Fintech
Stripe Launches Agentic Commerce Suite for AI-Led Sales
Stripe has unveiled an Agentic Commerce Suite designed to support transactions initiated by AI agents. The tools enable automated purchasing, billing, and payments across platforms. This positions Stripe at the center of AI-driven commerce workflows.
Source
Klarna Launches Agentic Product Protocol for AI Discovery
Klarna introduced an open protocol that makes over 100 million products discoverable by AI agents. The standard allows merchants to surface products seamlessly in AI-driven shopping experiences. It signals how commerce is being re-architected for autonomous agents.
Source
New Fintech Programme Targets Financial Readiness for Scotlandโs Ageing Population
A new fintech initiative in Scotland aims to help older adults better prepare financially for later life. The programme combines digital tools with financial education. It highlights fintechโs growing role in addressing demographic challenges.
Source
๐ช Crypto
Visa Launches Stablecoin Advisory Practice
Visa has launched a dedicated advisory practice to help institutions navigate stablecoin adoption. The initiative focuses on use cases, compliance, and integration with existing payment systems. It reinforces Visaโs view of stablecoins as a mainstream payments tool.
Source
World Launches Super App with Crypto Pay and Encrypted Chat
World has unveiled a super app combining crypto payments, identity features, and encrypted messaging. The platform aims to merge financial and social functionality in one ecosystem. It reflects the continued ambition to build โeverything appsโ around crypto.
Source
Bitcoin Pullback to $85,000 Hits New Market Entrants
Bitcoinโs retreat to $85,000 has shifted unrealized losses toward newer investors. The move highlights ongoing volatility despite broader institutional interest in crypto. It serves as a reminder of risk as markets mature.
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MetaComp Partners with Stablecoin Platform Stable
Singapore-based MetaComp has partnered with Stable to expand stablecoin-based payment capabilities. The collaboration focuses on regulated settlement and institutional use cases. It underscores Asiaโs growing role in stablecoin infrastructure.
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๐ Regulation
UK Unveils New Crypto Rules to Drive Growth and Protect Consumers
The UK government has announced new crypto regulations aimed at boosting innovation while strengthening consumer protection. The framework targets stablecoins, custody, and market integrity. It signals a more structured and growth-friendly regulatory stance.
Source
SEC Chair Warns Crypto Could Become a Financial Surveillance Tool
The SEC chair has cautioned that crypto technologies could enable large-scale financial surveillance if poorly governed. The comments highlight growing regulatory concerns around privacy and data use. They also foreshadow tougher oversight discussions ahead.
Source
๐๏ธ Other
Doha Bank Issues $150M Digital Bond with Instant Settlement
In a parallel report, Doha Bankโs digital bond issuance highlights instant settlement as a key innovation. The transaction reduces operational risk and settlement delays. It reinforces momentum behind tokenized securities.
Source
Superbank IPO Draws Massive Retail Demand
Superbankโs IPO attracted over one million orders and was oversubscribed 318 times. The response shows strong retail appetite for digital-first banking stories. It also signals renewed IPO momentum in fintech-linked offerings.
Source
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