DigiFT, Chainlink, and UBS have partnered to help automate tokenized fund operations, as per an official press release. DigiFT is an RWA-based digital asset exchange licensed by the Monetary Authority of Singapore.
Managed under the Cyberport Blockchain & Digital Asset Pilot Subsidy Scheme, the new initiative is expected to help leverage the full blockchain technology and all the benefits of tokenization by speeding up the process of distributing, settling, and managing tokenized products. The implementation should also help to reduce manual errors and help with cost savings.
“Cyberport is at the heart of Hong Kong’s digital transformation,” said DigiFT Founder & Group CEO Henry Zhang.
“Through this project, we are combining institutional partners, regulated infrastructure, and blockchain technology to build the next chapter of tokenized fund distribution—one that moves us closer to a truly open economy where financial products can interoperate seamlessly across borders and platforms,” he also said.
The press release by Chainlink states that both crypto companies in this partnership will be contributing some of their capabilities or technologies to help make the automation possible. DigiFT will be providing its regulated distributor smart contracts, and Chainlink will be giving Digital Transfer Agent smart contracts. The in-house tokenization service of UBS will also be involved in this project.