Chainlink’s LINK Gains as DigiFT, UBS Secure Hong Kong Approval for Tokenization Pilot

Chainlink, DigiFT, and UBS have won approval under Hong Kong’s Cyberport Blockchain and Digital Asset Pilot Subsidy Scheme to develop automated infrastructure for tokenized financial products, according to a Thursday announcement.

Chainlink’s native token, LINK, climbed 2.5% to trade above $24 following the news. The project aims to digitize and streamline the distribution, settlement, and management of tokenized funds, processes that today often rely on manual paperwork and are prone to delays and errors. By leveraging smart contracts, the partners seek to lower costs and establish standardized operations.

Under the framework, investors will place orders for UBS’s tokenized products through DigiFT’s regulated distributor smart contracts. Chainlink’s Digital Transfer Agent system will then process and record the transactions onchain, automatically triggering issuance or redemption of UBS’s tokenized contracts.

Separately, Chainlink this week expanded its enterprise-grade connectivity tools by launching its Cross-Chain Interoperability Protocol (CCIP) on the Aptos blockchain, extending solutions for DeFi platforms and corporate treasury systems.

Technical Picture
LINK has staged a sharp rebound since mid-August, advancing more than 20%, according to CoinDesk Research’s technical model. The breakout established volume-based support near $23.60, underpinned by sustained buying interest. LINK has also outperformed the CoinDesk 20 benchmark, which gained 1.5% over the same period.