The Proof-of-Concept (PoC) launched by the cross-chain infrastructure protocol Axelar in collaboration with J.P. Morgan's Onyx, Provenance, and Apollo demonstrates a new solution: investment managers can use tokenized funds on their chosen blockchains to purchase and reallocate tokenized assets across multiple interconnected chains to form investment portfolios.

Axelar, as a cross-chain infrastructure connecting over 50 blockchains, has become a bridge between the CeFi and DeFi worlds. Through its partnership with J.P. Morgan and Apollo's Onyx, it successfully conducted an experiment demonstrating the use of smart contracts to manage client investment portfolios at scale. In the proof-of-concept, blockchain technology was used to execute transactions and automate the management of tokenized real-world assets (RWA).

Since its mainnet launch in 2022, Axelar (AXL) has formed a secure, programmable network through its cross-chain protocol connecting 53 chains and integrated off-chain systems with on-chain networks using a hybrid system, bridging over $6 billion in assets.

One of the most innovative aspects of the proof-of-concept is the ability for investment managers to change investment models by replacing one Apollo private equity fund with another Apollo private equity fund, using a rebalancing module to automatically reallocate positions in 100 strategy-compliant investment portfolios, including order placement and settlement, leveraging the composability and automation features unique to blockchain while significantly reducing human error.

This collaborative proof-of-concept is part of the Monetary Authority of Singapore's "Project Guardian," aimed at standardizing transaction settlement processes on interoperable blockchains.

Tyrone Lobban, Head of Onyx Digital Assets, stated, "We believe that using smart contracts, tokenized assets, and programmatic linking models can enable the automatic and rapid reallocation of investment portfolios, whether they contain traditional assets, alternative assets, or use multiple ledgers... There is a lot of discussion about how cross-chain RWA exacerbates liquidity and experiences fragmentation. Therefore, we are exploring how interoperability solutions across EVM and non-EVM chains can address this issue."

J.P. Morgan's Onyx leverages Axelar's cross-chain technology to achieve interoperability with the private, permissioned blockchains provided by Provenance Blockchain Zone, supporting the tokenization of assets including Apollo funds. Provenance has locked $9 billion worth of RWA assets on-chain.

Sergey Gorbunov, CEO of Axelar Inc., stated, "Through Axelar, J.P. Morgan's Onyx is able to introduce composability and programmability in portfolio management, achieving modular rebalancing automation across 100 investment portfolios. This is a powerful example of blockchain interoperability."

A comprehensive report on the PoC was released this week at the Singapore FinTech Festival.

For more information, please visit www.axelar.network or join the Axelar Discord.

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