Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
JPMorgan tests tokenized portfolios with Avalanche blockchain tech

JPMorgan tests tokenized portfolios with Avalanche blockchain tech

BlockworksBlockworks2023/11/16 20:03
By:Blockworks

JPMorgan Onyx also tapped Axelar, Provenance Blockchain and Oasis Pro for its recent Project Guardian pilots

JPMorgan blockchain arm Onyx has collaborated with a suite of industry startups to create a proof of concept that could show how tokenization can help better manage financial assets.

The tests were carried out under the Monetary Authority of Singapore’s Project Guardian and was designed specifically to enable fund managers to tokenize their portfolios on chosen blockchains.

Wealth managers could also purchase and rebalance their positions across these different interoperable blockchain networks. 

The blockchain stacks chosen for this proof of concept include Provenance Blockchain, JPMorgan’s own Onyx Digital Assets and Avalanche. Cross-chain communication protocol Axelar and issuance-slash-trading platform Oasis Pro also contributed to the initiative.

It is important to note that these transactions were done in a permissioned manner, meaning access was limited to a select few participants on private blockchain networks. So, the transactions won’t show up on public chain explorers such as Axelarscan, Mintscan or Snowscan, though example transactions are detailed in a recent JPMorgan and Apollo report . 

Galen Moore, global communications lead at Axelar, told Blockworks that Axelar created a permissioned instance for connecting different chains by modifying its existing cross-chain configuration so that it was in alignment with the privacy and access management requirements set by the proof of concept. 

“The purpose of this Project Guardian was to demonstrate a system that would allow a portfolio manager to manage a large number of discretionary portfolios comprising tokenized assets across multiple blockchains,” Moore said. “In that, it was successful.”

JPMorgan tests tokenized portfolios with Avalanche blockchain tech image 0 How JPMorgan’s tokenized portfolios worked across multiple private blockchains

It is uncertain whether public chains or mainnets will be involved in future deployments. Though this is the case, JPMorgan has been actively exploring possibilities in the blockchain technology space. Also for Project Guardian, JPMorgan processed tokenized foreign exchange trades on Polygon’s mainnet last year via a modified version of the permissioned DeFi platform Aave Arc.

Most recently, it gave institutional clients more programmability over its payment offerings on its blockchain-based accounts with the JPM Coin system, allowing users to set parameters around payments based on different requirements. 

The bank has also been exploring on-chain digital wallets, allowing users to store and control digital identity on its platform. 

“Consistent with the goals of Project Guardian, we believe our POC is a critical moment at the intersection between traditional finance and blockchain technology,” JPMorgan wrote in a report . 

“We view our contribution to Project Guardian as the first step of a journey into the complex business of delivering higher quality discretionary investment portfolios in a thoughtful and efficient manner to improve the end investor’s experience and results.”

Don’t miss the next big story – join our  free daily newsletter .

Tags
  • Avalanche
  • blockchain
  • JPMorgan
  • Tokenization
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!