JPMorgan and Apollo Global launch a tokenization project with Avalanche, LayerZero, Axelar, and others.
Tokenization will:
- Reduce 3000+ operational steps to 1 automated process for wealth managers
- Reduce portfolio fees ~20% as a result of reducing cash drag through faster, programmatic settlement
- Create a $400Bn annual revenue opportunity for the broader AWM industry
Source: Christine Moy