Onyx Digital Assets, a subsidiary of JPMorgan, along with other industry players such as WisdomTree, Apollo, Ava Labs, and several DLT technology providers, including Oasis Pro, Biconomy, LayerZero Labs, and Axelar, participated in a pilot project for investment portfolio management.
This initiative, part of Project Guardian, supervised by the Central Bank of Singapore, aimed to tokenize, purchase, and rebalance real world assets (RWA) using various blockchains and standardized settlement processes.
The project also explored using decentralized finance (DeFi) protocols and open, interoperable permissioned networks to exchange tokenized assets.
The primary objective of the JPMorgan-led project was to showcase how blockchain technology can be used in managing large client portfolios, specifically by enabling automated management of tokenized financial assets such as private equity, private credit, real estate, and infrastructure.
One of the technologies utilized in the pilot was the Axelar network, which facilitated communication with the permissioned Provenance Blockchain Zone, a Provenance mainnet-compatible appchain.