Chainlink, UBS Asset Management, and DigiFT have teamed up on a pilot study in Hong Kong to automate the management of tokenised funds. The project is being run under the Cyberport Blockchain & Digital Asset Pilot Subsidy Scheme, a government-backed programme that supports Web3 experimentation through both funding and a regulatory sandbox.
The initiative involves creating a blockchain-based framework that replaces traditional manual processes with smart contract automation.
This approach is intended to streamline the subscription, redemption, and settlement stages of tokenised products while also reducing costs and human error. According to the partners, the new system will embed automation into every step of a fund’s lifecycle, from order placement to execution.
UBS brings its UBS Tokenize platform, which manages tokenised fund contracts. Chainlink’s role is to provide its Digital Transfer Agent (DTA), which validates investor requests and records them directly on-chain.
DigiFT, licensed in Singapore and Hong Kong, will provide the regulated distribution channel where investors can submit their instructions. The contracts used for UBS’s tokenised products follow the Capital Markets Technology Association (CMTA) Token standards, a Swiss-developed framework for digital securities.
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Henry Zhang, founder of DigiFT, said the project will shape the future of tokenised fund distribution, while Fernando Vazquez of Chainlink Labs added that the work represents a milestone in secure and transparent fund automation.
Cyberport is at the heart of Hong Kong’s digital transformation. Through this project, we are combining institutional partners, regulated infrastructure, and blockchain technology to build the next chapter of tokenised fund distribution.
Henry Zhang, founder of DigiFT The study is significant for Hong Kong, which maintains a regulatory framework for digital assets distinct from mainland China but still subject to overarching national rules. Success could help accelerate the transition of tokenised financial products from test environments to mainstream offerings within the global US$132 trillion (AU$198.2 trillion) asset management industry.
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