Its been confirmed that the two traditional-finance giants, JP Morgan and Apollo worked with some Blockchain firms to demonstrate "Proof of concept" on how asset managers could tokenize funds on the blockchain of their choice.

It was a collaboration between JP Morgan Onyx Digital Asset, Axeler interoperability layer alongside Oasis Pro- the infrastructure provider and provenance blockchain to manage large scale client portfolio, execute trades, enable automated portfolio management of tokenized assets according to a press release.

On the Provenance blockchain zone, it's been confirmed that Oasis pro enabled tokenization of assets such as Apollo Funds.

This idea is a part of project Guardian, a collaborative and supportive effort led by the Monetary Authority of Singapore (MAS) alongside traditional Finance institution to discover opportunities and potential risk using decentralized Finance DeFi, the announcement was made at Singapore's Fintech festival.

Purchasing and rebalancing of positions in tokenized assets across multiple chains by wealth managers could also be archived through this demonstration .

In a press release, Tyrone Lobban Head of Onyx Digital Assets said, " our goal is to create significant efficiencies and enable better outcomes for assets and wealth managers and investors through personalized, highly scalable portfolios regardless of assets class and where those assets are managed and recorded".

The moves emerge as a result of High interest margin created by a number of traditional Finance institutions in the blockchain industry, earlier in the year, the financial heavyweight including Charles Schwab, Citadel securities and Fidelity investments announced the start of cryptocurrency exchange EDX markets.

With the private blockchain, Provenance Blockchain Zone, Onyx Digital Assets used the Axeler network to enable interoperability.

Oasis pro, a Fintech infrastructure provider for real world- class assets, implemented the tokenization of the assets on the Provenance Blockchain Zone .

Also it's been confirmed to be first-of-it-kind blockchain interoperability solution for institutional financial services, said by Anthony moro CEO of Provenance Blockchain.

According to press release, Provenance Blockchain has supported over $16 billion in transactions and currently having $9 billion in real-world financial assets on-chain.

JPMorgan carried out its first live blockchain-based collateral settlement transaction involving Blackrock and Barclays in October.

Finally, its very true that the blockchain industry is experiencing a hike with the help of its technological advancement.

Please your reaction to this news is highly needed.