$5.7 trillion Switzerland's banking mogul UBS taps zkSync testnet to experiment with its UBS Key4 Gold instrument
UBS, a Swiss-based banking and asset managing conglomerate, is experimenting with rolling out Key4 Gold program on zkSync Validium testnet. In a bold move, UBS is setting new standards in RWAs tokenization on Ethereum-like blockchains.According to an announcement by zkSync, an Ethereum-based L2 scaling network, UBS, Switzerland's largest bank, is rolling out its digital gold investment vehicle's proof of concept on zkSync testnet.
Alex Gluchowski of Matter Labs, zkSync co-inventor, is optimistic about the opportunities the new concept unlocks for the tokenization scene on high-performance EVM blockchains: Christoph Puhr, Digital Assets Lead for UBS Group, is excited by the prospects of the collaboration with Matter Labs on PoC and further ZK-powered use cases:
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