JPMorgan Explores Blockchain Uses in Portfolio Management

JPMorgan’s digital asset division, Onyx, is leading a collaborative effort that focuses on the use cases of blockchain interoperability in portfolio management.

The bank is developing a proof-of-concept project under “Project Guardian,” an initiative launched by the Monetary Authority of Singapore (MAS) that revolves around swap services for tokenized assets on decentralized networks.

According to Project Guardian’s thesis, it is essential to develop a one-stop-shop for managing digitized real-world assets across multiple blockchains by using solutions like account abstraction and Layer 2 settlement.

JPMorgan’s Onyx has collaborated with wealth managers like Apollo and WisdomTree for a new initiative. The joint effort includes blockchain-native entities such as Provenance, LayerZero, Axelar, Oasis Pro, and Biconomy, as announced by Tyler Lobban, Head of Blockchain and Onyx Digital Assets at JPMorgan.

According to Lobban, this initiative aims to address the pain points associated with contemporary asset and wealth management. These include managing discretionary portfolios at scale and executing automated transactions for tokenized financial assets using blockchain protocols.

JPMorgan has recently announced its involvement in a number of digital asset-related operations, as banks seek to capitalize on blockchain technology and leverage on-chain solutions that complement traditional finance.

As reported by crypto.news, the bank has added programmable payments to its JPM Coin and has set a goal of achieving $10 billion in transactions within the next year. Additionally, JPMorgan has launched its Tokenized Collateral Network, which enables investors to deploy collateral without the need to transfer assets.