{"id":194345,"date":"2023-11-16T02:45:36","date_gmt":"2023-11-15T21:15:36","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=194345"},"modified":"2023-11-16T02:45:36","modified_gmt":"2023-11-15T21:15:36","slug":"jp-morgans-onyx-teams-up-with-avalanche-to-streamline-portfolio-management-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/jp-morgans-onyx-teams-up-with-avalanche-to-streamline-portfolio-management-crypto-news\/","title":{"rendered":"JP Morgan\u2019s Onyx Teams Up With Avalanche To Streamline Portfolio Management &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<p>Proof of Concept Under MAS\u2019 \u2018Project Guardian\u2019 Explores Using DeFi Tools To Efficiently Administer Alternative Assets <\/p>\n<div>\n<p>Amid the ongoing crypto rally, major financial institutions continue to explore how blockchain technology can make their operations more efficient.<\/p>\n<p>JP Morgan&#8217;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.<\/p>\n<p>\u201cBy leveraging the power of blockchain technology, we have shown how the construction and management of discretionary portfolios could be revolutionized,\u201d said Tyrone Lobban, Head of Onyx Digital Assets, which currently processes billions of dollars in trades on a daily basis.<\/p>\n<p>Onyx leveraged <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thedefiant.io\/layerzero-raises-120m-at-3b-valuation\">LayerZero<\/a>, a cross-chain messaging protocol, to connect with a permissioned <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thedefiant.io\/avalanche-doubles-down-on-asset-tokenization-with-50m-fund\">Avalanche<\/a> subnet, facilitating subscriptions and redemptions of funds offered by WisdomTree.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/metamask.io\/portfolio\/?utm_source=defiant&amp;utm_medium=display&amp;utm_campaign=MM_pDapp_Defiant_ROS&amp;utm_content=MM_pDapp_Defiant_728x90_Sell\" class=\"h-[58px] noprose mx-auto mb-8 mt-6 block w-[320px] overflow-hidden lg:hidden\"><\/a><\/p>\n<p>AVAX is up 60% in the past week, making it the best-performing digital asset in the top 20.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/currencies\/avalanche\/\" class=\"no-underline\"><\/p>\n<figure><img decoding=\"async\" alt=\"AVAX Price chart\" loading=\"lazy\" width=\"768\" height=\"485.36801040312093\" data-nimg=\"1\" class=\"mx-auto\" id='b' style='filter: url(%23b)' src=\"https:\/\/thedefiant.io\/_next\/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F5ae32d9efcecda21f8c93dceb4d02fe85914a5e3-769x486.jpg&amp;w=828&amp;q=75\" \/><figcaption class=\"text-center text-xs\">AVAX Price<\/figcaption><\/figure>\n<p><\/a><\/p>\n<p>The project <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.avax.network\/blog\/onyx-j-p-morgan-leverages-avalanche-for-portfolio-management\">concluded<\/a> that tokenization simplifies the management of alternative assets (alts) by replacing manual processes with automated, smart contract-driven operations for payments and investor register updates. This allows wealth managers to more easily include alts in client portfolios.<\/p>\n<p>Additionally, using smart contracts for discretionary portfolios demonstrated the potential for mass, automated rebalancing of numerous portfolios. Interoperability protocols across different blockchain platforms expand the range of investable assets without needing to transfer underlying assets from their original ledgers.<\/p>\n<h2>Citi Tests Tokenized Forex<\/h2>\n<p>Meanwhile, Citibank has developed a blockchain-based application for pricing and executing bilateral spot foreign exchange (FX) trades.<\/p>\n<div class=\"relative flex items-center gap-2 rounded-md bg-[#191919] p-2 my-4 lg:hidden\">\n<div class=\"relative group  flex w-max items-center gap-2  p-2 text-sm text-white mx-auto\"><strong class=\"whitespace-nowrap w-min sm:w-auto bg-gradient-to-r from-[#9FF9D2] to-[#DB9FF9] bg-clip-text text-transparent\">DeFi Alpha<\/strong><span class=\"whitespace-nowrap  w-min sm:w-auto border-l border-white pl-1 lg:hidden\">Premium Content<\/span><\/p>\n<div class=\"tooltip font-heading shadow-cta absolute hidden lg:visible left-6 z-10 -top-[80px] w-max max-w-xs translate-y-full flex-col rounded-lg bg-[#EEEEF4] p-3 text-left text-xs text-black group-hover:flex lg:left-auto lg:right-4\">Looking for Alpha? Become a premium member of The Defiant and join our DeFi Alpha community.<\/p>\n<ul class=\"list-inside list-disc\">\n<li>DeFi Daily | Weekdays<\/li>\n<li>DeFi Alpha Letter | Weekly<\/li>\n<li>Defiant Podcast Transcript | Weekly<\/li>\n<li>Inbox Dump | Saturday<\/li>\n<li>Weekly Recap | Sunday<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/thedefiant.io\/go-premium#pricing\" class=\"disabled:bg-cta-disabled-background disabled:text-cta-disabled-text rounded font-semibold border-cta-primary-border bg-cta-primary-background text-cta-primary-text hover:border-cta-primary-border-hover hover:bg-cta-primary-background-hover ml-auto block p-2 text-center text-sm !text-black !no-underline shadow-newButton\">Start for free<\/a><\/div>\n<p>Also developed under MAS\u2019 Project Guardian initiative, the application offers real-time streaming of price quotes and records trade executions on-chain for immutable, secure record-keeping of trade data.<\/p>\n<p>\u201cWe are taking steps towards building foundational capabilities to offer liquidity, pricing and risk management to our global clients wherever they choose to trade \u2013 be it on traditional rails or on blockchain,\u201d said Sam Hewson, Head of FX Sales at Citi.<\/p>\n<p>Citi collaborated with T Rowe Price and Fidelity International on the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.businesswire.com\/news\/home\/20231114842602\/en\/\">project<\/a>, which uses a private permissioned instance of the Avalanche blockchain. It\u2019s not yet available for clients but has been tested using USDSGD.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Proof of Concept Under MAS\u2019 \u2018Project Guardian\u2019 Explores Using DeFi Tools To Efficiently Administer Alternative Assets Amid the ongoing crypto rally, major financial institutions continue to explore how blockchain technology can make their operations more efficient. JP Morgan&#8217;s Onyx digital assets unit and $500B asset manager Apollo Global have joined forces with the Monetary Authority [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":194346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-194345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/194345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=194345"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/194345\/revisions"}],"predecessor-version":[{"id":194352,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/194345\/revisions\/194352"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/194346"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=194345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=194345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=194345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}