Chainlink LINK Surges 2.5% on Hong Kong Tokenization Pilot with DigiFT and UBS

Chainlink LINK News - Chainlink's native token LINK climbed 2.5% to surpass $24 following the announcement of a Hong Kong-based pilot program with DigiFT and UBS. This initiative, approved under Hong Kong's Cyberport Blockchain subsidy scheme, aims to automate tokenized fund operations by replacing manual processes with smart contracts for distribution, settlement, and lifecycle management of tokenized financial products. The collaboration utilizes DigiFT's regulated distributor smart contracts for investor orders, while Chainlink's Digital Transfer Agent framework handles on-chain transaction processing. This infrastructure is designed to reduce costs and operational risks while standardizing fund management processes. In related developments, chainlink has expanded its Cross-Chain Interoperability Protocol to the Aptos blockchain, enhancing connectivity solutions for DeFi applications and corporate treasury management.