Union Bank (UBS) in Switzerland, the largest bank in Switzerland, is testing tokenized gold products on Ethereum (ETH) Layer-2 Scaling Solution ZKSync (ZK).
In the new thread of Social Media Platform X, developers behind ZKSYNC say that UBS is testing tokenized gold investment products in the blockchain as a means to improve the functions for global use.
According to the developer, the developer is currently being tested on Layer-2 networks that UBS Key4 Gold, where users can buy and sell gold hot chains.
“UBS, Switzerland’s largest bank, is modernizing digital gold investments in ZKSYNC. I tested Zksync Validium in POC (POC) of UBS GOLD. Goal: To deal with expansion, personal information and interoperability of global expansion…
UBS KEY4 GOLD allows fractional gold investments for retailers and includes real -time prices, deep liquidity, safe physical storage and selective delivery. UBS KEY4 GOLD will be built on the UBS GOLD Network, Public, Liquid Providers and Distributors. ”
ZKSYNC said UBS succeeded in UBS, which distributes smart contracts to Testnet Validium.
As mentioned by ZKSYNC co -founder Alex Gluchowski,
“This POC reflects UBS’s ongoing efforts to explore how the blockchain can improve financial provision and support a wide range of digital asset strategies. I am convinced that the future of finance will be a catalyst for temperature and ZK technology.
This POC is evidence of the fact that ZKSYNC is an ideal assumption for tokenized assets that build Web3 without compromise. We are happy to play an essential role in the continuous evolution of space. ”
ZK decreases 6.8% to $ 0.142 when writing.
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Created image: Midjourney