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UBS is testing the use of ZKsync technology to provide UBS Key4 GOLD product
Odaily Planet Daily News UBS (NYSE:UBS) has completed the proof of concept (PoC) and simulated the provision of the UBS Key4 Gold product on ZKsync Validium in a test environment. The purpose of this test is to provide a solution for scalability, cost, privacy, interoperability with Ethereum, and the convenience of trading assets. ZKsync Validium is an L2 blockchain solution designed to scale Ethereum while preserving data privacy, chosen for "deploying PoC, with the goal of effectively developing the network while enhancing its interoperability in a test environment." UBS Key4 Gold offers retail and wealth clients in Switzerland the "direct right to buy physical gold," allowing for small-scale gold investments.