Recently, JPMorgan, a leading traditional financial institution in the market, announced a collaboration with several projects to enhance the management of encrypted funds on the blockchain.
Specifically, JPMorgan’s Onyx Digital Assets has officially partnered with Axelar (the Oasis Pro infrastructure provider) and Provenance Blockchain to manage large-scale customer portfolios and automated portfolios of encrypted assets.
This move is part of the Guardian project, a collaborative effort led by the Monetary Authority of Singapore (MAS) and leading traditional financial organizations to explore potential opportunities in using decentralized finance (DeFi). Through this project, asset managers can purchase and rebalance their positions in encrypted assets across multiple blockchains.
It’s evident that traditional financial conglomerates are increasingly interested in the blockchain industry. Previously, three major financial players, including Charles Schwab, Citadel Securities, and Fidelity Investments, also collaborated to launch the cryptocurrency exchange EDX Markets.
Currently, these aforementioned projects are actively integrating with each other and implementing asset tokenization on their platforms. Among them, Provenance Blockchain stands out, as it has supported over $16 billion in transactions and currently holds $9 billion in real financial assets on the blockchain.