According to Techub News, CoinDesk reported that Fidelity International has joined JPMorgan Chase's Tokenized Collateral Network (TCN) and cooperated with Onyx Digital Assets to tokenize the shares of money market funds (MMFs). Fidelity International said that this move means improving the efficiency of meeting margin requirements and reducing transaction costs and operational risks.

Fidelity International also has a long history in digital assets, having partnered with Swiss bank Sygnum on a tokenization project as early as 2019. JPMorgan’s TCN began with the tokenization of money market shares, a mutual fund that invests in high-quality, short-term debt instruments and cash equivalents. The bank said it plans to expand to equities, fixed income and a range of asset classes.