UBS Asset Management has launched a tokenized money market investment fund built on Ethereum distributed ledger technology.
Editorial
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Thomas Kaegi, Co-Head of UBS Asset Management Apac, 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 provide our customers with an innovative solution.
The bank’s global distributed ledger technology strategy focuses on using public and private blockchain networks to improve the issuance and distribution of funds.
As an active industry partner of the Monetary Authority of Singapore’s Project Guardian initiative, UBS Asset Management launched a live pilot of a tokenized open-ended company (VCC) fund in October 2023.
More broadly, this fund launch is also part of the broader expansion of UBS’s tokenization services through UBS Tokenize where, in June 2023, UBS issued 200 million CNH of fully digital structured notes for a third-party issuer. And in November 2023, UBS completed the world’s first cross-border repurchase transaction with a natively issued digital bond, fully executed and settled on a public blockchain.
