A new collaboration between Chainlink Labs, UBS Asset Management and Digift wants to revise how investment funds are created and managed.
The three companies announced On 11 September they will build an automated framework for Tokenized products under the Cyberport program of Hong Kong.
The Cyberport Blockchain & Digital Asset Pilot subsidy Scheme is an effort supported by the government to encourage web3 experiments in Hong Kong. The scheme offers financing and a regulatory sandbox for projects that can serve as templates for broader acceptance.
Henry Zhang, the founder of Digift, said:
“Cyberport is the core of the digital transformation of Hong Kong. Through this project we combine institutional partners, regulated infrastructure and blockchain technology to build the next chapter of Tokenized Fond distribution.”
Asset -tokenization
According to the statement, the initiative of the three companies focuses on replacing manual processes in fund activities with blockchain-based automation.
The system is expected to reduce errors, transfers and lower costs in the $ 132 trillion global asset management sector by bed in every phase, from issue to repayment.
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UBS will be patented UBS-Tokenize platform contributes, while Chainlink entails his digital transfer agent, a tool that validates and records transactions. Digift, licensed in Singapore and Hong Kong, offers the regulated distribution channel.
These components are designed to enable investors to place orders and recordings via smart contracts that automatically activate the required actions on the Tokenized Funds of UBS.
Chainlink Labs director Fernando Vazquez described the project as a milestone for the industry. He said that integration shows how the issue of the fund and life cycle management can be automated in a way that remains in accordance with and remains transparent in the financial system of Hong Kong.
According to him, the framework shows what future capital markets can look like once blockchain technology is fully embedded in their activities.
If successful, the cooperation can speed up the speed with which Tokenized financial products from pilot programs to regular investment offerings.
