Axelar, Oasis Pro and Provenance Blockchain have worked with Onyx by J.P. Morgan and Apollo under the Monetary Authority of Singapore’s (MAS) Project Guardian to demonstrate how blockchain technology could be used to manage large-scale client portfolios, execute trades and enable automated portfolio management of tokenized financial assets.
J.P. Morgan’s Onyx Digital Assets team led development of a proof-of-concept (PoC) system in collaboration with Apollo, with the goal of enabling fund managers to tokenize funds onto their chosen blockchain, and to enable wealth managers to purchase and rebalance positions in tokenized assets across multiple, interconnected blockchains. The POC standardizes processes to settle transactions on interoperable blockchains.
Within the POC, Onyx Digital Assets used the Axelar network to enable interoperability with a private and permissioned Provenance Blockchain Zone. Oasis Pro enabled the tokenization of assets, such as Apollo funds, on the Provenance Blockchain Zone.
“Our goal is to create solutions that bring significant efficiencies and enable better outcomes for Asset & Wealth Managers and investors through personalized, highly scalable portfolios, regardless of asset class or where those assets are managed and recorded,” said Tyrone Lobban, head of Onyx Digital Assets, in a statement. “The interoperability achieved through Project Guardian is a step forward in showing how tokenized traditional and alternative investments can be automatically managed across multiple systems.”