Union Bank of Switzerland (UBS), the largest bank in Switzerland, tests a tokenized gold product on Ethereum (ETH) Layer-2 Scale Solution ZKSync (ZK).
In a new thread on the social media platform X, the developers behind ZKSync public participation That UBS his tokenized gold investment products on the blockchain test as a way to improve functionality for worldwide use.
The product-UBS Key4 Gold, with which users can buy and sell units of Golden On-Chain and now tests on the Layer-2 network, according to the developers.
“UBS, the largest bank in Switzerland, modernizes digital gold investments at ZKSync. They tested ZKSync Validium in a POC (proof of concept) for UBS Gold. The goal: to tackle scalability, privacy and interoperability for global expansion …
UBS Key4 Gold provides fractional gold investments for retail customers and includes real -time prices, deep liquidity, safe physical storage and optional delivery. UBS Key4 Gold is built on the UBS Gold Network, a permitted blockchain that connects safes, liquidity providers and distributors. “
ZKSync out The fact that UB’s smart contracts on his Testnet Validium implemented was a success.
When stated by ZKSYNC co-founder Alex Gluchowski,
“This POC reflects UBS’s continuous efforts to investigate how blockchain can improve its financial offers and support the wider strategy for digital assets. I am firmly convinced that the future of finance will take place on chains and ZK technology will be the catalyst for growth.
This POC is proof of the fact that ZKSync is the ideal house for Tokenized Assets, building web3 without a compromise. We are pleased to play an integral role in the constant evolution of space. “
ZK acts for $ 0.142 at the time of writing, a decrease of 6.8% in the day.
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Generated image: midjourney