JPMorgan and Apollo plan to launch a tokenized "enterprise mainnet."

According to BlockBeats news on November 28th, executives from JPMorgan and Apollo revealed a tokenized "enterprise mainnet" plan that was formed during the Project Guardian pilot project in collaboration with the Monetary Authority of Singapore (MAS). The enterprise mainnet provides scalability and allows applications to be added to the network of institutional banks, broker-dealers, and asset management companies that already have KYC standards. Christine Moy, partner at Apollo Global Management, explained in an interview with Forbes how production-grade tokenization helped create JPMorgan's new product, intraday repo. Tyrone Lobban, the bank's blockchain lead, revealed that the new system has already processed over $900 billion in assets. According to Moy, the system operates as an enterprise mainnet and she believes it has a first-mover advantage in providing tokenized investment tools.