Wall Street giants, including JPMorgan’s Onyx, are streamlining blockchain proofs-of-concept from Project Guardian, aiming to turn insights into tangible products, as per Stephanie Lok, Onyx’s product manager.
Wall Street behemoths are considering how to industrialize proofs-of-concept that were developed as part of the Project Guardian blockchain endeavor.
Product manager Stephanie Lok of JPMorgan’s blockchain platform Onyx stated that transforming the insights gained from the pilot program with the Monetary Authority of Singapore (MAS) into tangible products is a “very big focus area” for the organization.
On May 10, Lok disclosed the following information at the TokenizeThis event in Miami:
We want to see how we can take it forward. Investment fund tokenization is where we’re really focusing a lot of our time. […] That’s a very big focus area: how can we kind of productionize, industrialize what we built out as a proof-of-concept?”
WisdomTree, an asset manager, is an additional conventional company that “is hell bent on the blockchain-enabled finance migration.” Maredith Hannon, director of business development for WisdomTree, stated at the event that the organization is aiming to personalize portfolios in addition to integrating portfolios with checking accounts.
Regarding the prospective advantages of real-world asset tokenization for investors‘ portfolios, Hannon advised, “Consider the possibility of executing 10,001 distinct variations of various types of allocations and risk profiles.
“In a similar vein to tokenization, WisdomTree is investigating how to provide its clients with access to multiple on-chain services via a single interface.
Hannon asserts that the financial institution is developing an application that will incorporate a variety of services, such as tokenized portfolios and standard banking operations. Hannon observed:
“It’s just enabling those to be on-chain. Deliver that end value of being able to use your money more effectively. Being able to be in the market, in a money market fund earning 5% versus earning pretty much nothing in your checking account. That’s really the ethos that we’re going after here. And we think that from a distribution perspective, that’s a huge need in the market and a problem to solve.”
One of the asset managers responsible for Bitcoin exchange-traded funds (ETFs) is WisdomTree. An initiative that investigates the viability of asset tokenization and decentralized finance (DeFi) applications in wholesale funding markets is known as The Project Guardian.
Established in May 2022, its principal objectives encompass the development of trusted infrastructure, asset tokenization, open and interoperable networks, and institutional-grade DeFi protocols.Principal Project Guardian participants consist of WisdomTree, JPMorgan, DBS Bank, and SBI Digital Asset Holdings.
