UBS has successfully completed a proof-of-concept for a blockchain-based gold investment product, utilizing an Ethereum layer-2 solution to enhance transaction efficiency and security. The “UBS Key4 Gold” project aims to facilitate smaller gold investments with real-time pricing and high liquidity. Despite this blockchain initiative, UBS remains skeptical of cryptocurrencies, maintaining strict policies against crypto transactions and not offering direct crypto services.
about UBS Explores Blockchain for Gold While Maintaining Crypto SkepticismzkSync
0 in Finance and 0 in Crypto last weekUBS Tests Key4 Gold Program on Ethereum’s zkSync Layer 2 Network
UBS, Switzerland’s largest bank, is piloting its Key4 Gold program on the zkSync Validium testnet, aiming to enhance tokenization of real-world assets on Ethereum-like blockchains. This proof of concept showcases gold token issuance and transaction processing, leveraging zkSync’s privacy and scalability features. UBS continues to explore blockchain’s potential to innovate financial offerings, addressing challenges in scalability, privacy, and interoperability.
about UBS Tests Key4 Gold Program on Ethereum's zkSync Layer 2 NetworkUBS Tests Blockchain Technology for Enhanced Gold Investment Transactions
UBS is testing blockchain technology to enhance its gold investment services, specifically through a proof-of-concept with ZKsync that explores zero-knowledge rollups for improved scalability, privacy, and interoperability. The initiative focuses on UBS Key4 Gold, which allows retail investors to buy fractional shares of physical gold, and aims to integrate stablecoins with Ethereum to reduce costs. While the test was successful, UBS has not yet confirmed plans for a full implementation of layer-2 solutions in its financial products.
about UBS Tests Blockchain Technology for Enhanced Gold Investment TransactionsUBS Explores Blockchain for Digital Gold Investments on ZKsync
UBS is testing blockchain technology to enhance digital gold investments for retail clients, utilizing ZKsync Validium to improve scalability, privacy, and interoperability. The bank’s UBS Key4 Gold product, initially on a permissioned blockchain, aims for global expansion with higher transaction throughput and lower fees. ZKsync plans to achieve over 10,000 transactions per second by 2025, potentially attracting more institutional participants to the blockchain space.
about UBS Explores Blockchain for Digital Gold Investments on ZKsyncCoinbase Launches Crypto Exchange in Argentina Amid Growing Adoption
Coinbase has received approval to launch its crypto exchange in Argentina, a country that has seen $91 billion in crypto transactions between 2023 and 2024. With 87% of Argentinians believing in blockchain’s potential for financial independence, the firm aims to enhance local financial literacy and has appointed Matías Alberti to lead operations. Notably, 61.8% of the crypto received is in stablecoins, reflecting the impact of hyperinflation in the region.
about Coinbase Launches Crypto Exchange in Argentina Amid Growing AdoptionPudgy Penguins Launches Abstract Chain on Ethereum Mainnet for Web3 Applications
Abstract Chain, developed by Igloo Inc. and linked to the Pudgy Penguins NFT collection, has launched on the Ethereum mainnet, utilizing ZKsync’s ZK stack for low fees and high scalability. The platform features native account abstraction for user-friendly wallet operations and has introduced The Portal, allowing users to create wallets with just an email. With over 100 community-created apps, Abstract aims to enhance crypto communities and support Web3 applications.
about Pudgy Penguins Launches Abstract Chain on Ethereum Mainnet for Web3 ApplicationsPrivate Credit and Tokenization Transforming DeFi Yield Opportunities
Tokenizing real-world assets (RWAs) is reshaping both traditional and decentralized finance, with private credit emerging as a significant yield opportunity. Clearpool’s CEO, Jakob Kronbichler, emphasizes that as regulatory clarity increases, institutional players will engage more with tokenized financial instruments, unlocking transparency and liquidity in previously opaque markets. The trend is expected to grow, with institutions entering RWA lending pools, driven by the potential for higher yields and protocol token rewards.
about Private Credit and Tokenization Transforming DeFi Yield Opportunities