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Chainlink Partners with UBS and DigiFTTech to Automate Tokenized Product Lifecycle

Chainlink Partners with UBS and DigiFTTech to Automate Tokenized Product Lifecycle

The collaboration will streamline tokenized fund management operations, leveraging smart contracts to automate subscriptions, redemptions, and lifecycle management under Hong Kong’s Cyberport program.

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Fact Check
The statement is strongly confirmed by multiple, corroborating sources. Reputable industry news outlets like Cointelegraph, CryptoSlate, and MarketsMedia, as well as a blog post from DigiFT itself, explicitly state that Chainlink, UBS, and DigiFT have partnered or are collaborating on a pilot project in Hong Kong to automate tokenized fund operations and the lifecycle of real-world assets (RWAs).
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Summary

DigiFT, Chainlink, and UBS have formed a partnership to automate the management of tokenized funds in Hong Kong. This platform will streamline fund operations such as subscriptions, redemptions, and lifecycle management using smart contracts, contributing to cost savings and error reduction in the asset management industry. The project is part of Hong Kong’s Cyberport Blockchain & Digital Asset Pilot Subsidy Scheme.

Terms & Concepts
  • Tokenized Funds: Digital versions of traditional financial assets, created and managed on blockchain platforms, offering more efficient and automated management processes.
  • Smart Contracts: Self-executing contracts with the terms of the agreement directly written into lines of code, automatically enforcing and executing contractual obligations without intermediaries.
  • Cyberport Blockchain & Digital Asset Pilot Subsidy Scheme: A Hong Kong government initiative offering financial subsidies to support blockchain and Web3 projects, aiming to accelerate the development and real-world use of digital asset technologies.