Key takeaways
- UBS Asset Management has launched its first tokenized fund on the Ethereum blockchain.
- The bank manages $5.7 trillion in assets and aims to meet growing investor demand for tokenized financial assets.
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UBS Wealth Management announcement today the launch of its first tokenized fund, the “UBS USD Money Market Investment Fund Token” (uMINT), on the Ethereum blockchain.
UBS, which manages $5.7 trillion in assets, will provide investors with access to a high-quality, risk-free money market investment product managed through approved distribution partners.
Thomas Kaegi, Co-Head of UBS Asset Management APAC, commented on the change:
“We have seen a growing investor appetite for tokenized financial assets across all asset classes.”
Kaegi highlighted UBS’s commitment to digital finance, citing the bank’s work with regulators and industry partners to expand their product offerings in this area.
The uMINT fund is part of UBS’s broader blockchain strategy, which includes further tokenization steps.
In November 2023, UBS completed the world’s first cross-border buyback of a digital bond natively issued on a public blockchain, following its June 2023 issuance of 200 million CNH of fully digital structured notes for a third-party issuer.
The bank also worked with Singapore’s Project Guardian last year to pilot a tokenized open-ended company (VCC) fund, strengthening UBS’s role as a leader in institutional blockchain financing.
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