Chainlink, UBS, and DigiFT have united to automate fund operations based on blockchain technologies. The project is supported by the Cyberport program in Hong Kong and aims to enhance transaction speed and transparency.
The Collaborative Process: Chainlink, UBS, and DigiFT
This partnership involves three key institutions. Chainlink stands out as a leading cryptocurrency project that functions as a decentralized oracle network, channeling real-world data into smart contracts. UBS manages assets worth 5.9 trillion dollars, operating globally as a wealth management company. DigiFT operates as a regulated exchange which combines traditional finance with blockchain solutions.
The process functions via Chainlink’s Digital Transfer Agent (DTA) smart contracts. Investors can submit buy, sell, or redeem orders for UBS’s tokenized products using DigiFT’s distributed contracts. The DTA system automatically logs these orders and conducts all operations like fund issuance and redemption on the blockchain, which reduces manual errors and shortens transaction times.
Hong Kong Cyberport Program
The project, developed under Hong Kong’s Cyberport program, aims to encourage blockchain-based solutions and establish the city as a cryptocurrency hub. This model creates a fund management infrastructure that aligns with institutional standards and regulatory frameworks. The combination of UBS’s financial expertise, Chainlink’s smart contract infrastructure, and DigiFT’s regulated exchange setup provides a system that enables global-scale fund management applications.
Future Prospects in Global Fund Management
Automating transactions within the blockchain contributes to transparent fund tracking and accelerates the process for investors. This application stands out as an example that could enhance the use of crypto-based solutions in the 132 trillion dollar global fund management market, also providing infrastructure for more organized and efficient cross-border fund operations.
The collaboration between Chainlink, UBS, and DigiFT showcases the potential of blockchain technologies in fund management, opening new opportunities for improving efficiency and transparency in financial operations.
