Union Fintech Introduces ZKsync-Powered Union Chain, Bridging Crypto And TradFi
In Brief
Union Fintech announced the launch of Union Chain, a blockchain platform powered by ZKsync technology and supported by regulated exchanges and licensed RWA tokenization platforms throughout Southeast Asia.
Fintech company based in Singapore, Union Fintech announced that it has launched Union Chain, a blockchain platform powered by ZKsync technology. The platform is supported by regulated exchanges and licensed Real World Asset (RWA) tokenization platforms across Southeast Asia, including Coinhako, Indodax, and Coins.ph, Coins.co.th, InvestaX, and IXSwap.
Union Chain is a ZK Chain designed to connect the realms of cryptocurrency and traditional finance (TradFi). It achieves this by integrating top centralized exchanges (CEXs) with licensed RWA tokenization leaders and advanced blockchain technology to facilitate the creation, issuance, distribution, and trading of digital assets and tokenized financial products. This approach unlocks new markets and use cases, appealing to both cryptocurrency enthusiasts and the next wave of cryptocurrency users.
Union Chain was developed to address fragmentation, regulatory challenges, and interoperability issues between TradFi and cryptocurrency. By leveraging regional licenses, on/off ramps, local stablecoins, and the network of exchanges, Union Chain offers comprehensive toolkits for licensing, fiat integration, and distribution. This infrastructure facilitates seamless interaction between traditional finance and the cryptocurrency world, opening up new opportunities and use cases.
Union Chain’s Testnet To Focus On RWA, Payments, Regional Enterprise Adoption, And Market Access
By leveraging the licenses and expertise of InvestaX (CMS, RMO) and regulated CEXs, Union Chain goes beyond traditional tokenization platforms. It offers a comprehensive suite of RWA solutions, covering structuring, issuance, tokenization, distribution, and fiat on/off ramps, ensuring a smooth transition for TradFi companies into the cryptocurrency space. Additionally, by providing access to the on/off ramps and local stablecoins from platforms like Indodax, Coins PH, Coinhako, and Coins TH, Union Chain facilitates faster, cost-effective remittance solutions tailored to the Southeast Asian market.
With regional licenses, local expertise, user access, and dedicated support teams, Union Chain is well-positioned to provide compliant blockchain solutions, driving adoption in Southeast Asia and, ultimately, the broader Asian market. Meanwhile, developers using Union Chain will gain access to over 20 million KYC’ed users within a total addressable market of 600 million potential users. Union also plans to collaborate with additional CEXs in the future.
By integrating Union Chain’s regulated infrastructure with the scalability and security of ZKsync, this collaboration is set to revolutionize both Web3 and TradFi sectors, offering superior compliance, market reach, and technological capability. The decision of leading regulated cryptocurrency exchanges in Southeast Asia to adopt ZKsync technology further solidifies the Elastic Network as a key ecosystem for asset tokenization.
The ZK Stack infrastructure enables financial institutions to tokenize and issue compliant RWAs on Union Chain, while connecting regulated exchanges and issuers, facilitating the flow of crypto liquidity and yield into TradFi markets. This results in lower transaction costs, greater liquidity sources, and higher yields through reliable on/off-ramps.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
