Axelar completed proof-of-concept with Onyx and Apollo, a subsidiary of JPMorgan Chase, to implement RWA automated portfolio management

Cross-chain infrastructure protocol Axelar announced the completion of a proof-of-concept with JPMorgan Chase’s digital asset platforms Onyx and Apollo on the use of smart contracts to manage large-scale customer portfolios. In this proof-of-concept, blockchain technology is used to execute transactions and enable automated portfolio management of tokenized financial assets (RWA). Axelar's cross-chain infrastructure protocol connects value and communication to more than 50 blockchains in Web3 through a secure, programmable network and now hybrid systems to integrate off-chain systems through on-chain networks. Axelar (AXL) is an interoperable cross-chain infrastructure for the emerging mixed real-world asset (RWA) tokenization and DeFi sectors. Onyx, a digital asset platform owned by J.P. Morgan, leverages Axelar’s ​​cross-chain technology to achieve interoperability with private and permissioned Provenance Blockchain instances, which currently have $9 billion in real-world financial asset value locked on the chain, including funds and loans. and private equity. Sergey Gorbunov, CEO of Axelar, said: “With Axelar, JPMorgan’s Onyx is able to bring composability and programmability to portfolio management, managing 100s of portfolios through automated modularity. This is blockchain interoperability. A strong case for sex.” Since the mainnet in 2022, Axelar has completed cross-chain transfers with a total amount of more than 6 billion US dollars through its cross-chain protocol and has supported 53 blockchain networks.