
ETF provider WisdomTree has collaborated with JP Morgan and alternative investment firm Apollo to execute a proof of concept (PoC) aiming to illustrate the feasibility of utilising blockchain technology in model portfolio rebalancing.
The project is being run through the Monetary Authority of Singapore’s Project Guardian initiative designed to explore institutional use cases for tokenisation.
This PoC will use the tokenised digital funds of both WisdomTree and Apollo, with JP Morgan as the fund manager.
In technology, JP Morgan’s Onyx Digital Assets arm will serve as the base chain, connecting Ethereum virtual machine (EVM) and non-EVM blockchain networks.
According to WisdomTree, the institutional focus on bridging the gap between TradFi and DeFi fits with its direct-to-consumer initiatives launched through its blockchain-based digital wallet, WisdomTree Prime.
The three asset managers join Schroders as participants in Project Guardian, described by the regulator as a “groundbreaking initiative to develop a digital asset ecosystem”.
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