Executives from banking giants JPMorgan and Apollo have revealed plans for a tokenized “enterprise mainnet” formed during their partnership on the Monetary Authority of Singapore’s (MAS) Project Guardian pilot. In an interview with Forbes, Christine Moy, a partner at Apollo Global Management, explained how production-grade tokenization helped create JPMorgan’s new trading product, intraday buybacks. Tyrone Lob, the lender’s head of blockchain, revealed that the new system has already processed more than $900 billion in assets, adding: “Prior to this there was virtually no intraday repo market and now around $2 billion is settled daily through our platform intraday repurchase transactions in U.S. dollars." Moy said that the system operates as an enterprise mainnet, which has a first-mover advantage in the competition to provide tokenized investment tools; the "enterprise mainnet" provides scalability, and applications can be added Tap into a network of institutional banks, broker-dealers and asset managers with existing KYC regulations.

It is reported that on November 15, MAS introduced five additional industry pilots to Project Guardian to test various use cases for asset tokenization, with 17 member financial institutions including JPMorgan Chase and Apollo participating. The two companies are working together to test digital assets to enable more seamless investing and management, including discretionary portfolios and alternative assets, automated portfolio rebalancing and mass customization.