Vital factors
- UBS Asset Administration has launched its first tokenized fund on the Ethereum blockchain.
- The financial institution manages $5.7 trillion in property and goals to fulfill rising investor demand for tokenized monetary property.
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UBS Asset Administration announced Immediately, the corporate’s first tokenized fund, the UBS USD Cash Market Funding Fund Token (uMINT), was launched on the Ethereum blockchain.
UBS, which manages $5.7 trillion in property, offers traders with entry to high-quality, risk-managed cash market funding merchandise by means of licensed distribution companions.
Commenting on the transformation, Thomas Kaegi, Co-Head of UBS Asset Administration APAC, stated:
“We’re seeing elevated investor urge for food for tokenized monetary property throughout all asset lessons.”
Kaegi highlighted UBS’s dedication to digital finance, noting that the financial institution is working with regulators and trade companions to broaden its product providing on this space.
The uMINT fund is a part of UBS’s bigger blockchain technique, which incorporates different tokenization milestones.
Following the issuance of CHF 200 million in absolutely digitally structured bonds to third-party issuers in June 2023, UBS will situation digital bonds natively on public blockchains in November 2023. Accomplished the world’s first cross-border buyback transaction.
Final yr, the financial institution partnered with Singapore’s Mission Guardian to pilot a tokenized Variable Capital Firm (VCC) fund, reinforcing UBS’s function as a frontrunner in institutional blockchain finance.
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