Swiss Banking Giant UBS Brings Gold Trading to Blockchain With Ethereum

tldr; Swiss banking giant UBS has tested its blockchain-based gold investment product, Key4 Gold, on the Ethereum Layer-2 network ZKSync. This trial used ZKSync’s Validium mode to enable fractional gold purchases through secure and private blockchain transactions. The initiative reflects a trend of traditional financial institutions adopting blockchain for asset tokenization. UBS aims to streamline gold investments by allowing Swiss customers to purchase physical gold via a blockchain system, ensuring scalability, privacy, and interoperability.

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Comment by mazda7281 at 02/02/2025 at 09:59 UTC

2 upvotes, 1 direct replies

It'd be a great news in 2017/18 or 2021/22. Unfortunately current cycle is not about utility, it's about shitty memecoins without any value. It's worse than NFTs...

Comment by Next_Statement6145 at 01/02/2025 at 20:51 UTC

2 upvotes, 0 direct replies

ZKSync is growing so rapidly!

Comment by partymsl at 01/02/2025 at 21:56 UTC

1 upvotes, 0 direct replies

RWA sector needs to PUMMMMP.

Comment by Clearly_Ryan at 01/02/2025 at 21:51 UTC

1 upvotes, 1 direct replies

Alright, question. So I have to trust a third party to hold the gold. What benefit does Eth offer me that I can't just use their third party platform to do the exact same thing with the exact same risk exposure? AKA if they default on the collateral I lose everything, how is involving Eth helping?