Union Bank of Switzerland (UBS), the largest bank in Switzerland, tests a tokenized gold product at Ethereum (Ethics) Layer-2 Scaling Solution Zksync (Non).
In a new thread on the social media platform X, the developers behind Zksync say That UBS tests its tokenized gold investment products on blockchain as a way to improve the functionality of global use.
Product-UBS Key4 Gold, which allows users to buy and sell units of gold on the chain tested now at the Layer-2 network, according to its developer.
“UBS, Switzerland’s largest bank, modernizes digital gold investments at Zksync. In a POC (Proof of Concept) for UBS Gold they tested the Zksync Valumum. The goal: to address scalability, integrity and interoperability for global expansion …
UBS Key4 Gold enables fractional gold investments for retail customers and includes real -time prices, deep liquidity, safe physical storage and delivery of optional. UBS Key4 Gold is built on UBS Gold Network, a allowed blockchain connecting vaults, liquidity suppliers and distributors. “
Zksync says That UBS who distributed smart contracts on its testnet Valumum was a success.
As abandoned By Zksync founder Alex Gluchowski,
“This POC reflects UBS’s continued efforts to explore how blockchain can improve its financial offers and support its broader digital asset strategy. I believe that the future of finance will take place on the chain and ZK technology will be the catalyst for growth.
This POC is proof of the fact that Zksync is the perfect home for tokenized assets, building web3 without compromise. We are pleased to play an integrated role in the continued development of space. “
ZK deals for $ 0.142 at the time of writing, a decrease of 6.8% on the day.
Generated Picture: Midjourney
