TechFlow News — Christine Moy, Partner for Data and Artificial Intelligence at alternative asset management firm Apollo, announced a collaboration with JPMorgan's digital asset platform Onyx to streamline alternative asset investments through tokenization and smart contracts.
The initiative is expected to reduce operational steps for wealth management institutions, accelerate programmatic settlements, lower portfolio fees, and unlock an annual revenue opportunity of $400 billion for the AWM industry.
In addition, JPMorgan and Apollo are partnering with blockchain interoperability layer Axelar, infrastructure provider Oasis Pro, and Provenance Blockchain to manage large-scale client portfolios, execute transactions, and enable automated portfolio management of tokenized assets.
In 2023, Onyx and Apollo will collaborate under the Singapore Monetary Authority’s "Project Guardian" initiative to test the application of tokenization and smart contracts in asset management.
