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![J.P. Morgan and Apollo Collaborate on Blockchain Tokenization Proof of Concept (2) In a groundbreaking move, financial powerhouses J.P. Morgan and Apollo have teamed up with blockchain firms to showcase a "proof of concept" for tokenizing funds on preferred blockchains.](https://image.coinlive.com/cryptotwits-static/bfd574501d2cb97f7d7dbe5b83db4c80.jpeg)
J.P. Morgan and Apollo Collaborate on Blockchain Tokenization Proof of Concept (2)
67
Nov 17
2
What’s Project Guardian?
According to the MAS’s webpage, Project Guardian is
“A collaborative initiative with policymakers and the financial industry that seeks to test the feasibility of applications in asset tokenisation and DeFi while managing risks to financial stability and integrity.”
This was announced by Deputy Prime Minister Heng Swee Keat in May 2022.
There are 2 groups in this project. They are split into the policymaker group, and the industry group, in which MAS falls under the former.
Others in the policymaker group consists of the Financial Conduct Authority (FCA) from the United Kingdom, Financial Services Agency from Japan, and FINMA from Switzerland.
On the other hand, the industry group consists of:Ant Group, ADDX, Apollo, BNY Mellon, Citibank, DBS, Franklin Templeton, HSBC, OCBC, Onyx by J.P. Morgan, SBI Digital Asset, Holdings, Schroders, SGX Group, Standard Chartered, T.RowePrice, UBS, UOB.
The project focuses on 4 areas.
Open and Interoperable Networks
Trust Anchors
Asset Tokenisation
Institutional Grade Protocols
For more information about Project Guardian, check out the MAS website here.
More J.P. Morgan And Web3
Notably, J.P. Morgan executed its first live blockchain-based collateral settlement transaction in October.
This was done in collaboration with First Abu Dhabi Bank (FAB).
It followed after the success of a similar test conducted in Bahrain with Bank ABC.
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