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UBS offers Swiss retail and wealth clients the ability to make fractional gold investments through its UBS key4 gold product. It is managed using a permissioned blockchain, the UBS Gold Network, but now the bank wants to explore making the offering available outside of Switzerland. Hence, it ran a proof of concept (PoC) using ZKsync, the Ethereum layer 2 solution.
The aim was to explore the scalability, privacy and interoperability potential of ZKsync.
“Whilst tokenized securities hold a lot of potential to bring new solutions to our clients, scalability, privacy, and interoperability remain key challenges to overcome,” said Christoph Puhr, Digital Assets Lead for UBS Group. “Our PoC with ZKsync demonstrated that Layer 2 networks and ZK technology hold the potential to resolve these.”
Retrieved from: https://www.ledgerinsights.com/ubs-trials-blockchain-for-expanding-digital-gold-reach-geographically/
