Onyx by J.P. Morgan, in collaboration with Apollo Global and under the aegis of the Monetary Authority of Singapore’s Project Guardian, has unveiled a proof-of-concept with Avalanche, a leading blockchain platform. This innovative venture aims to revolutionize asset and wealth management by harnessing the potential of blockchain, smart contracts, and tokenization to streamline portfolio management, especially for alternative assets that are typically challenging to trade and manage.The proof-of-concept leverages the LayerZero protocol to connect Onyx Digital Assets with an Avalanche Evergreen subnet. This subnet, specifically designed for institutional needs, emphasizes network privacy, gas features, and permissioning. Such infrastructure facilitates Onyx Digital Asset portfolios’ access to tokenized funds offered by WisdomTree, a major New York-based asset manager.This initiative under Project Guardian aligns perfectly with Ava Labs’ mission to digitize and tokenize the world’s assets, utilizing the speed, scalability, and customizability of Avalanche. The project concluded that tokenization simplifies the management of alternative assets by replacing manual processes with automated, smart contract-driven operations for payments and investor register updates. This technological shift allows wealth managers to more efficiently include alternative assets in client portfolios.The collaboration between Onyx and Avalanche represents a significant advancement in the application of blockchain technology in traditional financial services, potentially setting a new standard for the industry in terms of efficiency, security, and accessibility in asset management.

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Information	Details
Geography	Global
Countries	🇸🇬
Sentiment	positive
Relevance Score	1
People	Tyrone Lobban
Companies	Apollo Global, Onyx, J.P. Morgan, WisdomTree, Monetary Authority of Singapore
Currencies	Avalanche
Securities	None