UBS, one of the best banks in Switzerland, successfully tested its gold product UBS Key4 on Etheubs, one of the best banks in Switzerland, has just made an exciting movement. They successfully tested their UBS Key4 gold product on Ethereum Layer 2 networkZKSYNC.
It’s a new way for customers to buy physical gold using Blockchain technology – Combine the old with the new one. This breakthrough does not only offer convenience, but also confidentiality, scalability and improved safety.
Let’s dive and explore how it could change the future of gold trade forever.
A new era for digital gold trading
UBS Key4 Gold was successfully tested on Zksync, marking a big step in digital gold trading. The product allows investors to buy fractional gold, rather than whole units, which makes it more flexible and accessible. It also offers real -time prices, deep liquidity and secure physical storage, offering investors a safe and transparent negotiation experience.
Why Zksync?
Zksync validium, the Ethereum layer 2 network behind this test, is known to effectively manage a large number of transactions. It is also distinguished from its high privacy standards, because only participants can see their transactions.
Another key characteristic of Zksync is its interoperability, allowing an easy transfer of assets to different networks.
Industry leaders are expressed
Alex, Zksync co-investor, congratulated UBS for exploring the potential of the blockchain. He thinks that ZK technology will play an important role in training the future of finance, because blockchain becomes more widely used in financial systems.
Christoph Puhr, leader in digital assets of UBS, underlined the dedication of the bank to direct financial technology. He discussed the enormous potential of Tokenized titles and identified scalability, confidentiality and interoperability as major challenges. Puhr explained how Zksync helps to solve these problems, making it the right platform for the golden trading product based on UBS blockchain.
No more blockchain adoption for victory!
The success of UBS of the Blockchain gold exchange on Zksync Validium shows the growing role of layer 2 solutions in traditional finance. With improved confidentiality, scalability and interoperability, this experience could lead to a wider adoption of the blockchain for the tokenization of assets. While financial institutions explore web3 solutions, UBS’s decision marks an important step to the future of digital asset investments.
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