Project Guardian’s blockchain proofs-of-concept are being pursued by established financial institutions such as JPMorgan and WisdomTree with the aim of developing them into scalable financial solutions.
Companies with deep pockets on Wall Street are considering scaling up blockchain experiments like Project Guardian’s proofs-of-concept.
Product manager of JPMorgan’s Onyx blockchain platform Stephanie Lok said that implementing the lessons learned from the pilot programmed with the Monetary Authority of Singapore (MAS) into products is a “very large emphasis area” for the firm. During the May 10th TokenizeThis event in Miami, Lok revealed the following:
“We are interested in exploring potential next steps. Our main emphasis right now is on the tokenization of investment funds. the following: That’s a major point of emphasis: how can we take the proof-of-concept we developed and turn it into an industrial product?”
The asset management WisdomTree is another conventional company “particularly concentrating on the blockchain-enabled finance migration.” At the occasion, WisdomTree’s head of business development Maredith Hannon discussed the company’s goals, which include integrating portfolios with checking accounts and personalizing investment portfolios.
One of the possible advantages of tokenizing assets in the real world for investor portfolios, according to Hannon, is the ability to execute 10,001 different permutations of various sorts of allocations and risk profiles.
In a related development to tokenization, WisdomTree is investigating ways to provide its customers with many on-chain services via a unified interface. Hannon claims that the bank is developing an app to bridge the gap between traditional banking and tokenized portfolios. Notated by Hannon:
“The only thing it’s doing is making them on-chain. Give them the benefit of being able to manage their finances better in the end. You may earn five percent in a money market fund while your checking account earns almost nothing. We’re aiming for that kind of philosophy here. Furthermore, we believe that this presents a significant distributional challenge and unfilled market demand.”
One such endeavor is Operation Guardian, which is looking at the potential of asset tokenization and decentralized finance (DeFi) in wholesale financing markets. Its principal goals from its launch in May 2022 have been the creation of trustworthy infrastructure, asset tokenization, open and interoperable networks, and DeFi protocols suitable for institutional use.
Among the key players in Project Guardian are WisdomTree, SBI Digital Asset Holdings, JPMorgan, and DBS Bank.
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