UBS Trials ZKsync Technology to Offer UBS Key4 Gold Product

UBS (NYSE: UBS) has completed a proof of concept (PoC) that simulates the UBS Key4 Gold product on ZKsync Validium in a testing environment. This test aims to provide solutions regarding scalability, cost, privacy, interoperability with Ethereum, and the "convenience of trading assets." ZKsync Validium is an L2 blockchain solution designed to scale Ethereum while maintaining data privacy, and it has been selected for "deploying the PoC with the goal of effectively developing the network while enhancing its interoperability in a testing environment." UBS Key4 Gold offers Swiss retail and wealth clients "direct rights to purchase physical gold," allowing for fractional gold investments.