Published Jan 31, 2025 · CoinDesk
UBS tested its Key4 Gold product on ZKsync, exploring zero-knowledge technology to scale gold investments with privacy.
UBS Tests Gold Product on ZKsync Layer 2
Swiss banking giant UBS completed a proof-of-concept of its Key4 Gold offering on ZKsync's Ethereum layer-2 network. Key4 Gold lets Swiss clients purchase direct claims to physical gold with fractional investments and real-time pricing.
The test explored how zero-knowledge technology could help UBS scale its gold product while maintaining privacy — a key requirement for institutional finance.
"Only zero-knowledge made sense for them," said Pearl Imbach, Senior Business Development Manager at Matter Labs, the company behind ZKsync.
BitGo and ZKsync are teaming up to offer banks a full-stack infrastructure for tokenized deposits, as financial institutions look to bring traditional money onto blockchain rails without stepping outside regulatory boundaries.
Five US regional banks are building the Cari Network on ZKsync — tokenized deposits with stablecoin-speed settlement, FDIC-insured and fully within the banking system.
