JPMorgan: Launches $700M USDC Vault on Ethereum

JPMorgan Chase entered the vault curating business with a JLTXX USDC-denominated vault holding $700M in U.S. Treasury bills, bonds and overnight repurchase agreements, instantly placing the bank fifth among curators and ahead of TelosConsilium and Upshift. The vault runs on the bank's proprietary Kinexys protocol on Ethereum, marking a shift from its earlier permissioned blockchain focus. CEO Jamie Dimon's prior public opposition to stablecoins and DeFi makes the move notable as institutional players expand JPMorgan Chase USDC vault strategy and institutional DeFi treasury investments in 2026.