Hassan Maishera
Chainlink announced via X on Thursday that it has partnered with UBS and DigiFT to automate tokenized fund operations onchain under the Hong Kong government’s Cyberport program.
The blockchain-based solution is designed to automate the distribution, transfer, and lifecycle management of tokenized products, reducing manual errors and unlocking significant cost savings for the $132 trillion global asset management industry.
Chainlink explained that investors submit orders/redemptions for UBS’s tokenized products through DigiFT’s regulated distributor smart contracts, which are processed by Chainlink’s Digital Transfer Agent smart contracts and recorded onchain, where they trigger the corresponding issuance, redemption, and other fund lifecycle activities on the UBS tokenized product smart contracts.
Chainlink Network (LINK) aims to provide tamper-proof inputs and outputs of data for smart contracts on any blockchain. LINK is up 1.7% over the past 24 hours, trading at $23.73.
