UBS Taps Layer-2 Network ZKSync for Gold Tokenization Trial
Swiss Bank business giant, UBS, successfully tested its UBS Key4 Gold Product on the 2nd floor of Ethereum.
This emphasizes the search efficiency and SafetyEssence
UBS integrates ZKSYNC based on blockchain -based gold transactions
January 31, ZKSYNC Report UBS manages assets worth $ 57 trillion and is exploring how the blockchain simplifies gold investment.
The focus of the test is to allow bank customers to directly purchase physical gold through blockchain -based systems, while ensuring scalability, privacy and interoperability.
UBS Key4 GOLD enables retail investors to Buy score gold stockProvide real -time pricing, deep liquidity and safety storage. The product runs on UBS Gold Network. UBS has connected to the vault with no license blockchain of liquidity providers and distributors.
To optimize efficiency, UBS uses ZKSYNC’s effective mode. This is a summary solution for zero -knowledge, which can enhance scalability by storing data from the chain.
As part of the concept verification, the bank has deployed smart contracts on an effective testing network to simulate UBS gold network. These contracts promote the issuance and transaction processing of gold token.
“The POC reflects UBS to continue to explore how the blockchain enhances its financial products and support its wider digital asset strategy. I firmly believe that the future of finance will take onchain.” ZKSync’s inventor Alex Gluchowski wrote.
The test network also enhances privacy by restricting participants’ visibility of transactions and maintaining the visibility of the verification mechanism.
Also, it allows Stable with Ethereum mergedMake the purchase of gold token more cost -effective and scalability.
Interests of institutions for blockchain solutions are constantly increasing
UBS tests reflect a wider change of change Tradfi (Tradfi) uses blockchainEssence The bank has previously explored Token By activating the Ethereum -based currency market investment fund.
UBS’s digital assets are responsible for Christoph Puhr that token securities have huge potential, but scalability, privacy and interoperability are still obstacles. He emphasized, how did ZKSYNC POC show Layer 2 network Zero -knowledge technology can help respond to these challenges.
“This is another good example of how UBS and technology providers maintain the most cutting -edge innovation. We use ZKSync’s POC to show that the second layer of network and ZK technology have the potential to solve these problems.” PUHR pointed out.
Alex Gluchowski, which was invented by ZKSYNC, responded to this view, and pointed out that these measures show that the future of finance is on the chain.
According to him, zero -knowledge technology will be used as Innovative catalyst And provide a strong foundation for the token assets, the asset can accelerate the use of Web3.
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