Wall Street Giants, JPMorgan’s Onyx Eye Industrializing Blockchain PoCs
Leading financial institutions on Wall Street are shifting their focus towards industrializing proofs-of-concept (PoCs) developed within the blockchain experiment known as Project Guardian.
JPMorgan’s blockchain platform, Onyx, is particularly keen on converting the insights gained from its pilot program with the Monetary Authority of Singapore (MAS) into tangible products.
During the TokenizeThis event held in Miami on May 10, Stephanie Lok, product manager of JPMorgan’s Onyx, said the company is focused on investment fund tokenization as a key area of focus.
“That’s a very big focus area: how can we kind of productionize, industrialize what we built out as a proof-of-concept?” Lok stated.
Another traditional firm heavily invested in blockchain-enabled finance migration is WisdomTree, an asset manager.
Maredith Hannon, head of business development for WisdomTree, highlighted the company’s interest in portfolio personalization and blending portfolios with checking accounts.
Hannon further elaborated on the potential benefits of real-world asset tokenization for investor portfolios, envisioning the ability to create a myriad of allocation variations and risk profiles.
WisdomTree is also exploring the provision of different on-chain services through a unified interface for its clients.
The company aims to integrate various financial services, including tokenized portfolios and traditional banking services, into a single application.
“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.”
As a prominent asset manager involved in Bitcoin exchange-traded funds (ETFs), WisdomTree brings its
Read more on cryptonews.com
