Switzerland’s Largest Bank Tests Tokenized Gold Product on Ethereum Layer-2 ZKsync

Union Financial institution of Switzerland (UBS), the most important financial institution in Switzerland, assessments a tokenized gold product on Ethereum (ETH) Layer-2 Scale Resolution ZKSync (ZK).

In a brand new thread on the social media platform X, the builders behind ZKSync public participation That UBS his tokenized gold funding merchandise on the blockchain check as a method to enhance performance for worldwide use.

The product-UBS Key4 Gold, with which customers should buy and promote items of Golden On-Chain and now assessments on the Layer-2 community, in keeping with the builders.

“UBS, the most important financial institution in Switzerland, modernizes digital gold investments at ZKSync. They examined ZKSync Validium in a POC (proof of idea) for UBS Gold. The aim: to sort out scalability, privateness and interoperability for international growth …

UBS Key4 Gold gives fractional gold investments for retail clients and consists of actual -time costs, deep liquidity, protected bodily storage and non-compulsory supply. UBS Key4 Gold is constructed on the UBS Gold Community, a permitted blockchain that connects safes, liquidity suppliers and distributors. “

ZKSync out The truth that UB’s sensible contracts on his Testnet Validium applied was successful.

As stated by ZKSYNC co-founder Alex Gluchowski,

“This POC displays UBS’s steady efforts to analyze how blockchain can enhance its monetary presents and help the broader technique for digital belongings. I’m firmly satisfied that the way forward for finance will happen on chains and ZK know-how would be the catalyst for development.

This POC is proof of the truth that ZKSync is the best home for Tokenized Belongings, constructing web3 and not using a compromise. We’re happy to play an integral position within the fixed evolution of house. “

ZK acts for $ 0.142 on the time of writing, a lower of 6.8% within the day.

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