- Chainlink, UBS, and DigiFT collaborate on tokenized funds in Hong Kong.
- Project aims to automate and regulate operations.
- Boosts compliance and efficiency in asset management.
Chainlink, UBS, and DigiFT collaborate to automate tokenized funds in Hong Kong, a government-supported initiative enhancing compliance and efficiency in regulated asset management.
This partnership marks a significant move in financial tech innovation, leveraging blockchain to streamline operations, promising increased adoption and influencing real-world asset tokenization.
Project Collaboration and Objectives
Chainlink, UBS, and DigiFT join forces to automate fund operations in Hong Kong. This government-supported initiative focuses on tokenizing funds using smart contracts and interoperable infrastructure.
This project involves Chainlink Labs providing blockchain oracle services, UBS Asset Management using its tokenization platform, and DigiFT facilitating regulated distribution. According to Henry Zhang, Founder, DigiFT, “Cyberport is at the heart of Hong Kong’s digital transformation. Through this project, we are combining institutional partners, regulated infrastructure, and blockchain technology to build the next chapter of tokenized fund distribution.” source
The collaboration impacts the regulated asset management industry by enhancing compliance and efficiency. This reflects a major shift towards digital transformation in the financial sector.
The initiative receives backing from the Hong Kong government, offering financial and regulatory support crucial for Web3 adoption. Participants can find more insights and updates on this collaboration through UBS and DigiFT’s integration
Participants benefit from improved operational frameworks and a streamlined process. This could potentially revolutionize how assets are managed and distributed globally.
The project is a key step in integrating blockchain into capital markets. Expected outcomes include increased on-chain activity and reduced operational costs.
