A company that is changing the way the world mines bitcoin

The Daily Hodl 2025-02-02 19:45:19

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

Union Bank of Switzerland (UBS), the largest bank in Switzerland, is testing a tokenized gold product on Ethereum ( ETH ) layer-2 scaling solution ZKsync ( ZK ). In a new thread on the social media platform X, the developers behind ZKsync say that UBS is testing out its tokenized gold investment products on the blockchain as a means of improving functionality for global use. The product – UBS Key4 Gold, which allows users to buy and sell units of gold on-chain – is now being tested on the layer-2 network, according to its developers. “UBS, Switzerland’s largest bank, is modernizing digital gold investments on ZKsync. In a PoC (proof of concept) for UBS Gold, they tested ZKsync Validium. The goal: To address scalability, privacy, and interoperability for global expansion… UBS Key4 Gold allows for fractional gold investments for retail clients and includes real-time pricing, deep liquidity, secure physical storage, and optional delivery. UBS Key4 Gold is built on the UBS Gold Network, a permissioned blockchain connecting vaults, liquidity providers, and distributors.” ZKsync says that UBS deploying smart contracts on its testnet Validium was a success. As stated by ZKsync co-founder Alex Gluchowski, “This PoC reflects UBS’ continued efforts to explore how blockchain can enhance its financial offerings and support its broader digital asset strategy. I firmly believe that the future of finance will take place on-chain and ZK technology will be the catalyst for growth. This PoC is a testament to the fact that ZKsync is the ideal home for tokenized assets, building Web3 without compromise. We’re excited to play an integral role in the continued evolution of the space.” ZK is trading for $0.142 at time of writing, a 6.8% decrease on the day. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Switzerland’s Largest Bank Tests Tokenized Gold Product on Ethereum Layer-2 ZKsync appeared first on The Daily Hodl .

Наиболее читаемые новости

Whale Re-enters TRUMP Market, Buys 517,259 TR...
2025-02-03
Final Chance to Enter Before 100x Listing Exp...
2025-02-03
BTC Dominance Hits Record High of 61.22%: Ana...
2025-02-03
Robert Kiyosaki Warns of Bitcoin Crash as Tru...
2025-02-03
XRP and Bitcoin’s Next Big Move: These 5 Altc...
2025-02-03
Best New Meme Coins for Exponential Returns:...
2025-02-03
These 3 Altcoins That Might Still Be Underval...
2025-02-03
ETH Whale Rakes in $30 Million in Unrealized...
2025-02-03

Связанные новости

Прочтите Отказ от ответственности : Весь контент, представленный на нашем сайте, гиперссылки, связанные приложения, форумы, блоги, учетные записи социальных сетей и другие платформы («Сайт») предназначен только для вашей общей информации, приобретенной у сторонних источников. Мы не предоставляем никаких гарантий в отношении нашего контента, включая, но не ограничиваясь, точность и обновление. Никакая часть содержания, которое мы предоставляем, представляет собой финансовый совет, юридическую консультацию или любую другую форму совета, предназначенную для вашей конкретной опоры для любых целей. Любое использование или доверие к нашему контенту осуществляется исключительно на свой страх и риск. Вы должны провести собственное исследование, просмотреть, проанализировать и проверить наш контент, прежде чем полагаться на них. Торговля - очень рискованная деятельность, которая может привести к серьезным потерям, поэтому проконсультируйтесь с вашим финансовым консультантом, прежде чем принимать какие-либо решения. Никакое содержание на нашем Сайте не предназначено для запроса или предложения