UBS Asset Management has launched the UBS USD Money Market Investment Fund Token, or “uMINT,” a money market investment fund tokenized on the Ethereum blockchain. This new offering allows investors to access institutional-grade cash management options within a risk-controlled, high-quality money market framework.

According to Thomas Kaegi, Co-Head of UBS Asset Management APAC, demand for tokenized financial assets is rising across asset classes. “By utilizing our global resources and working closely with regulators and industry peers, we’re able to offer clients an innovative solution in line with this growing interest,” Kaegi said.

This launch marks a significant step in UBS Asset Management’s broader distributed ledger technology (DLT) strategy, which seeks to improve fund issuance and distribution by integrating public and private blockchain networks. UBS is also involved with the Monetary Authority of Singapore’s Project Guardian initiative and launched a live pilot of a tokenized Variable Capital Company (VCC) fund in October 2023.

The uMINT launch adds to UBS’s expanding suite of tokenization services under UBS Tokenize. In June 2023, UBS facilitated a fully digital issuance of structured notes worth CNH 200 million for a third-party issuer. Recently, in November 2023, UBS completed a pioneering cross-border repurchase transaction using a natively-issued digital bond executed and settled entirely on a public blockchain.

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