Global financial powerhouse UBS Asset Management has launched its first tokenized investment fund on the Ethereum blockchain.
The new product, called UBS USD Money Market Investment Fund Token, abbreviated “uMINT”, represents a strategic initiative for the Swiss banking giant, which currently manages more than $5.7 trillion in assets. The fund will be available through selected distribution partners that connect conventional banking with digital innovation.
The launch is part of a broader strategy by the bank’s tokenization platform, UBS Tokenize, focused on the digitalization of traditional capital market instruments such as bonds, funds and structured products. The move follows UBS’s successful pilot program in Singapore last year to test a tokenized open-end fund.
Thomas Kaegi, Co-Head of UBS Asset Management Asia Pacific, said: “We have seen a growing investor appetite for tokenized financial assets across all asset classes. By leveraging our global capabilities and collaborating with our peers and regulators, we can now offer our customers an innovative solution. solution.”
The banking institution’s blockchain strategy consists of public and private networks, aiming to streamline the process of issuing and distributing funds. This follows several traditional financial giants making a foray into the digital asset sector. Franklin Templeton launched its US Government Money Fund on Coinbase’s Base network, while BlackRock’s BUIDL is live on the Ethereum blockchain.
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