Amid the ongoing crypto rally, major financial institutions continue to explore how blockchain technology can make their operations more efficient.
JP Morgan's Onyx digital assets unit and $500B asset manager Apollo Global have joined forces with the Monetary Authority of Singapore for a proof-of-concept demonstrating how tokenization can streamline and automate portfolio management. The PoC aims to address the historical challenges of trading and administering alternative assets, often seen as operationally intensive and cumbersome to manage within traditional portfolios.
“By leveraging the power of blockchain technology, we have shown how the construction and management of discretionary portfolios could be revolutionized,” said Tyrone Lobban, Head of Onyx Digital Assets, which currently processes billions of dollars in trades on a daily basis.
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