According to Odaily, UDPN has officially launched its first production system, which includes stablecoin and asset tokenization solutions. The systems were developed in collaboration between Hong Kong's Red Sun Technology and the German consulting firm GFT, with the aim of supporting interoperability among multiple banks.
UDPN is capable of connecting tokenized deposits, central bank digital currencies, and stablecoins from multiple banks, using a messaging mechanism similar to Swift to ensure seamless system connectivity. Previously, UDPN conducted concept verifications with several high-profile institutions, including Standard Chartered Bank, Deutsche Bank, KPMG, and CBDC developer Giesecke+Devrient.
These systems integrate with traditional backend systems through APIs, allowing banks to set up business nodes on UDPN to provide tokenized deposit services for corporate clients, bypassing the limitations of traditional banking systems. UDPN plans to further decentralize its network operations by advancing the construction of institutional governance structures in the future.
