Chainlink Native Token Link (LINK) He crossed $ 24, moving 2.5% on Thursday when the Oracle supplier revealed a joint project with Digift and UBS to automate the operations of tokenized funds in Hong Kong.
The three companies obtained approval under the Blockchain pilot subsidy scheme and Hong Kong digital assets to build automated infrastructure for tokenized financial products, according to a press release from Thursday.
The partners plan to rationalize how the tokenized funds are established and managed throughout their life cycle. Today, these processes often imply manual paperwork that slows transactions and increases error risk. By changing these steps to intelligent contracts, the project aims to reduce costs and standardize fund operations.
According to the system, investors make orders for tokenized products from UBS through the intelligent contracts of DIGIFT regulated distributors. The framework of the Chainlink digital transfer agent processes the transactions and registers them in the chain, which in turn triggers the issuance or redemption in UBS token contracts.
In other recent news, Chainlink also introduced its cross -chain interoperability protocol Blockchain, expansion of business grade connectivity solutions for decentralized financial applications and corporate treasury management.
Technical analysis
- The Chainlink link has demonstrated a strong technical recovery after its 20% since mid -August, said the technical analysis model of Coindesk Research.
- Support based on the volume established at a level of $ 23.60 after rupture, confirmed by sustained purchase interests.
- The Token exceeded the widest Crypto Market Coindesk 20, which advanced 1.5% gain during the same period.
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