JPMorgan Launches $700M USDC Vault on Ethereum, Becomes Fifth-Largest Curator

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According to Trading Strategy, JPMorgan Chase launched a USDC-denominated vault valued at approximately $700 million through its Kinexys blockchain division on Ethereum yesterday (July 7). The JLTXX vault, backed by U.S. Treasury bills, government bonds, and overnight repurchase agreements, made JPMorgan the fifth-largest vault curator on Ethereum, expanding the bank's presence in institutional decentralized finance.
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