Wall Street giants are investigating how to manufacture proofs of concept developed within a trial

Wall Street giants are looking into how to manufacture proofs of concept developed within the Project Guardian blockchain experiment.

According to Stephanie Locke, product manager at JPMorgan’s Onyx platform, one of the company’s “very big areas of focus” is turning the learnings of the pilot program with the Monetary Authority of Singapore (MAS) into products. Lok shared these details during the TokenizeThis event in Miami on May 10:

“We want to see how we can move forward. Coding mutual funds is where we focus a lot of our time. (…) This is a very big focus area: How do we produce and manufacture what we have built as a proof of concept?”

Another traditional company “really focused on blockchain-enabled financial migration” is asset management firm WisdomTree. Speaking at the event, WisdomTree’s head of business development, Maredith Hannon, said the company is targeting portfolio customization as well as mixing portfolios with checking accounts.

“Think if you could make 10,001 different variations of different types of allocations and different types of risk profiles,” Hannon said about the potential real-world benefits of asset tokenization for investor portfolios.

Related: Tokenization to open interoperability across payments and investments

TokenizeThis 2024. Source: Sam Bourgi/Cointelegraph

WisdomTree is also related to tokenization, exploring how to offer different on-chain services within the same interface to its customers. According to Hannon, the bank is working on an app that will integrate a range of financial services, including token wallets and regular banking services. Hanoun noted:

“It’s just enabling those to stay on the chain. Achieve that ultimate 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 almost nothing in your checking account. That’s really the spirit we follow here. We believe that from a distribution perspective, this is a huge need in the market and a problem that needs to be solved.

WisdomTree is one of the asset managers behind Bitcoin exchange-traded funds (ETFs).

The Project Guardian is an initiative exploring the feasibility of decentralized finance (DeFi) and asset tokenization applications in wholesale finance markets. Launched in May 2022, its primary focus is developing open and interoperable networks, institutional-grade DeFi protocols, asset tokenization, and trusted infrastructure.

Key participants in Project Guardian are JPMorgan, DBS Bank, SBI Digital Asset Holdings and WisdomTree.

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