UDPN officially launched its first production system, including stablecoins and asset tokenization solutions. These systems were developed by Hong Kong-based Hongri Technology in collaboration with German consultancy GFT to support interoperability among multiple banks. UDPN is able to connect tokenized deposits, central bank digital currencies and stablecoins from multiple banks, and uses a Swift-like messaging mechanism to ensure seamless system connectivity. Previously, UDPN conducted proof-of-concepts with several high-profile institutions, including Standard Chartered, Deutsche Bank, KPMG, and CBDC developer Giesecke + Devrient. These systems integrate with traditional back-end systems via APIs, allowing banks to set up business nodes on UDPN to provide tokenized deposit services to corporate customers to bypass the limitations of traditional banking systems. UDPN plans to advance the establishment of an institutional governance structure in the future to further decentralize the operation of its network.