Chainlink's LINK Gains as DigiFT, UBS Fund Tokenization Pilot in Hong Kong

Chainlink native token LINK (LINK) crossed $24, advancing 2.5% on Thursday as the oracle provider revealed a joint project with DigiFT and UBS to automate tokenized fund operations in Hong ￰0￱ three firms secured an approval under Hong Kong’s Cyberport Blockchain and Digital Asset Pilot Subsidy Scheme to build automated infrastructure for tokenized financial products, according to a Thursday press ￰1￱ partners plan to streamline how tokenized funds are distributed, settled and managed throughout their lifecycle. Today, those processes often involve manual paperwork that slows transactions and increases the risk of ￰2￱ shifting these steps to smart contracts, the project aims to cut costs and standardize fund ￰3￱ the system, investors place orders for UBS’s tokenized products through DigiFT’s regulated distributor smart contracts.

Chainlink’s Digital Transfer Agent framework then processes the transactions and records them onchain, which in turn triggers issuance or redemption on UBS’s token ￰4￱ other recent news, Chainlink also introduced its Cross-Chain Interoperability Protocol to the Aptos (APT) blockchain, expanding enterprise-grade connectivity solutions for decentralized finance applications and corporate treasury ￰5￱ Analysis Chainlink's LINK has demonstrated a strong technical recovery following its 20% since mid-August, CoinDesk Research's technical analysis model said. Volume-based support established at $23.60 level following the breakout, confirmed by sustained buying ￰6￱ token outperformed the broader crypto market benchmark CoinDesk 20, which advanced 1.5% gain during the same period.

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