Union Fintech Launches Union Chain to Bridge Crypto and Traditional Finance – BitRss

Singapore – February 13, 2025 – Union Fintech, a fintech company based in Singapore, has announced the launch of Union Chain, a blockchain platform powered by ZKsync technology. This initiative is supported by leading regulated exchanges and licensed Real World Assets (RWA ($0.03)) tokenization platforms in Southeast Asia, including Coinhako, Indodax, Coins.ph, Coins.co.th, InvestaX, and IXSwap. The announcement was made here.

Union Chain is designed to bridge the gap between the worlds of cryptocurrency and traditional finance (TradFi). It aims to unite top centralized crypto exchanges (CEXs) and licensed real-world asset tokenization leaders with advanced blockchain technology. This platform facilitates the building, issuing, distributing, and transacting of digital assets on a single chain, opening up new markets and use cases for digital assets and tokenized financial products.

Union Chain’s Strategic Vision

Union Chain is led by Wei Zhou, Chairman of Union Chain and CEO of Coins.ph, and Junde Yu, CEO of Union Chain. The platform addresses fragmentation, regulatory hurdles, and interoperability issues by leveraging regional licenses, on/off-ramps, local stablecoins, and the reach of exchanges. This approach offers toolkits for licensing, fiat integration, and distribution, enabling seamless interaction between TradFi and crypto.

The testnet’s key verticals include Real World Assets (RWA), payments/remittance, and regional enterprise adoption. By leveraging the licenses and expertise of InvestaX and regulated CEXs, Union Chain provides a comprehensive RWA solution, including structuring, issuance, tokenization, distribution, and fiat on/off ramps. Additionally, Union Chain offers faster, cost-effective remittance solutions tailored for Southeast Asia, utilizing the on/off-ramps and local stablecoins of Indodax, Coins PH, Coinhako, and Coins TH.

Integration with ZKsync Technology

Union Chain’s integration with ZKsync technology marks a significant milestone in blockchain evolution. This collaboration combines ZKsync’s scalability and security with Union Chain’s regulated infrastructure, transforming the landscapes of both web3 and TradFi. The ZK Stack infrastructure enables financial institutions to tokenize and issue compliant RWAs through Union Chain, facilitating the flow of crypto liquidity and yield into TradFi.

Wei Zhou expressed enthusiasm for working with ZKsync’s technology and top-regulated exchanges in Asia to enhance crypto liquidity and innovation. Alex Gluchowski, Co-Inventor of ZKsync, highlighted the integration as a pivotal moment in blockchain technology, emphasizing its potential to drive innovation and unlock new opportunities.

Julian, CEO of InvestaX & IX Swap, noted that Union Chain delivers an institutional-grade RWA Layer 2 on Ethereum, connecting millions of crypto users with regulated financial infrastructure. William, CTO of Indodax, emphasized the initiative’s potential to revolutionize remittance services and SME financing in Southeast Asia, bridging traditional finance and digital assets.

Why This Matters: Impact, Industry Trends & Expert Insights

Union Fintech has launched Union Chain, a blockchain platform utilizing ZKsync technology to bridge cryptocurrency with traditional finance in Southeast Asia.

Recent industry reports indicate that financial institutions are increasingly optimistic about digital assets, with 75% planning to advance their digital asset strategies within the next two years. This aligns with Union Chain’s goal to integrate crypto with traditional finance, leveraging regulated exchanges and tokenization platforms.

A report highlights ZKsync’s potential in scalability and privacy, processing transactions significantly faster and cheaper than Ethereum’s mainnet. This supports Union Chain’s integration of ZKsync technology, enhancing the platform’s capability to bridge digital assets with traditional finance.

Disclaimer: The views expressed in this article are those of the authors and do not necessarily reflect the official policy of CoinsHolder. Content, including that generated with the help of AI, is for informational purposes only and is not intended as legal, financial, or professional advice. Readers should do their research before taking any actions related to the company and carry full responsibility for their decisions.

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