Banking Giant UBS Tests ZKSync’s Layer-2 Tech, Paving the Way for Digital Gold Trading

UBS, one of many high banks of Switzerland, has efficiently examined its UBS Key4 Gold product on the Etheubs, one of many high banks of Switzerland, has simply made an thrilling transfer. They’ve efficiently examined their UBS Key4 Gold product on the Layer 2 community of Ethereum, ZKSync.

It’s a new method for patrons to purchase bodily gold utilizing blockchain expertise – combining the outdated with the brand new one. This breakthrough not solely presents comfort, but additionally improved privateness, scalability and safety.

Let’s dive and examine how this might change the way forward for gold commerce perpetually.

A brand new period for digital gold commerce

UBS Key4 Gold has been efficiently examined on ZKSync, which marked an enormous step in digital gold commerce. The product permits traders to purchase fractional gold as an alternative of complete models, making it extra versatile and accessible. It additionally presents actual -time costs, deep liquidity and secure bodily storage, in order that traders supply a secure and seamless buying and selling expertise.

Why ZKSync?

ZKSync Validium, the Ethereum Layer 2 community behind this take a look at, is thought to deal with a lot of transactions effectively. It additionally stands out for its excessive privateness requirements, as a result of solely the individuals can see their transactions.

One other necessary function of ZKSync is interoperability, making belongings a easy switch of belongings over completely different networks.

Industrial leaders converse out

Alex, a co-investor of ZKSync, praised UBS for exploring blockchain’s potential. He believes that ZK expertise will play an necessary position in shaping the way forward for finance, as a result of blockchain is extensively utilized in monetary methods.

Christoph Puhr, the digital belongings of UBS, emphasised the financial institution’s dedication to main monetary expertise. He mentioned the big potential of tokenized results and recognized scalability, privateness and interoperability as main challenges. PUHR defined how ZKSync helps to resolve these issues, making it the precise platform for the UBS -based gold buying and selling product.

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Extra blockchain adoption for the victory!

UB’s profitable take a look at of blockchain-based gold commerce on ZKSync Validium exhibits the rising position of Layer 2 options in conventional funds. With improved privateness, scalability and interoperability, this experiment can result in wider blockchain acceptance for belongings -tokenization. Whereas monetary establishments discover Web3 options, the motion of UBS marks an necessary step within the course of the way forward for digital belongings investments.