With 2.6 million customers around the world, the Swiss bank UBS is a privileged partner of great wealth. This has been interested in the cryptocurrency domain for several years, including tokenization, as shown in its tokenized fund launched at Ethereum at the end of 2023. Now it examines the use of layers and more precisely ZKSYNC for its offer Key4gold.
- UBS examines the use of layer-2 ZKSYNC for its KEY4GOLD offer, allowing a fractional purchase of physical gold with better transaction speed and reduced costs.
- ZKSYNC, Layer-2-based Ethereum, UBS has been preferred for its intimate and safety capacity, strengthening the attraction of the Ethereum institutions.
UBS Explore ZKSYNC for your KEY4GOLD offer
UBSOne of the leading banks in Switzerland continues to investigate the cryptocurrency and blockchain sector.
This time it is on Layer-2 Zksync that has focused. We really know at the beginning of the week that it will be a train Explore the use of layer-2 ziction in your KEY4GOLD offer.
In practice, Key4Gold allows Swiss customers to buy physical gold. Unlike most products offered by banks, in connection with gold, such as ETF, Key4Gold allows you to get immediate and specific directly on parts of physical gold held by the bank.
This means many advantages. On the one hand with direct right to gold. In addition, it offers the possibility of requesting a physical delivery this. On the other hand it opens the door Fractional investment. So you don’t have to buy the whole gold bar and you are able to get fractions of the golden ounce.
Until now, this offer works on a private bank network called UBS Gold Network. Now the Experiment on ZKSYNC is the goal of going even further.
Why zkrync?
In fact, UBS examines the use of ZHRSYNC for its proof of the concept for several reasons.
As we remind you, ZKSYNC is a type of zero knowledge type. Therefore, it is based on the so -called zero knowledge evidence that ensures The validity of transactions while maintaining the confidentiality of exchanges. The central part of the bank’s activities.
In addition, ZHSYNC offers the main technical benefits of the face -to -face solutions that UBS currently uses. Allows Increase transaction control speed While offering much lower.
Ethereum: Favorite institution
This new initiative again reinforces the position of Ethereum on the institution. ZKSYNC is indeed a layer-2 developing in parallel with Ethereum. As a result, they inherit their security by publishing evidence of zero knowledge of L1.
When we approached the introduction, this is not the first time UBS turned to Ethereum. And it’s not the only one. Blackrock, Société Générale or Visa are all the giants of finance that examines possible applications on Ethereum or its L2 ecosystem.
And completely joins to Recent positions biased by Vitalik ButerinAs part of the controversy of Soneia, layer-2 deployed crypto branch Sony. It reminds many users then pointed out the censorship that was observed there.
Buterin took the opportunity to emphasize that this incident illustrates the power of Ethereum by allowing a free market. The net really allows both Open Source Code initiatives and Private initiatives to coexistencewithout the necessity or influenced by the foundations of the Ethereum.
“Companies can make very specific decisions on the level of control they maintain or provide users. But regardless of the rules they choose, these are the rules that apply. Everything happens in the chain, is transparent and can be checked by third sides. »»
More recently, and A new initiative called Ethereize was born. The aim is to promote the Ethereum network on institutions and present itself as support for the Ethereum Foundation Foundation, whose mission is more technical and more focused on research and development. So we could see new initiatives that appear combining institutions and Ethereum under its leadership.