According to reports, major American investment bank JPMorgan has tokenized a private equity fund on its own blockchain platform and launched the tokenized product to its high-net-worth clients.
The Wall Street Journal reported on Thursday that JPMorgan plans to tokenize assets such as hedge funds through its upcoming fund tokenization platform, Kinexys Fund Flow.
"For the alternative investment industry, adopting blockchain-based solutions is just a matter of time," said Anton Pil, an executive in JPMorgan's asset management division.
According to reports, JPMorgan expects to roll out Kinexys Fund Flow more broadly next year and plans to tokenize other assets such as private credit and real estate.
Real-world asset (RWA) tokenization is the process of digitizing ownership of assets like real estate, commodities, or funds into digital tokens on the blockchain. Unlike traditional assets, tokenized versions offer more flexibility, such as fractional ownership or being used as collateral.
Pil, who is the head of global alternative investment solutions at JPMorgan Asset Management, stated that tokenized assets essentially provide investors with a simpler way to access assets.
"It's more about simplifying the ecosystem of alternative investments and, frankly, making it easier for most investors to access," he said.
Asset tokenization has become one of the key trends in recent years, with investment giants like BlackRock betting that every financial asset will be tokenized in the future.
However, JPMorgan has long been working on asset tokenization. Since officially launching its Onyx division and related projects in 2019, the banking giant has been active in the field of tokenization and blockchain-based financial infrastructure.
The company will rename Onyx to Kinexys by the end of 2024, with the mission of accelerating the application of blockchain technology and tokenization in mainstream financial services.
Cointelegraph sought comment from JPMorgan regarding the tokenization of private equity funds on Kinexys, but had not received a response by the time of publication.
Related: Reports indicate that OpenAI is considering a trillion-dollar initial public offering (IPO) in the global AI arms race.
Original article: “JPMorgan Bets on Tokenization, Set to Launch Kinexys Fund Flow”
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