UBS launches first tokenized investment fund based on ethereum

On November 1, UBS announced the global launch of its first tokenized money market fund, using Singapore as a starting point, according to a report in the Union-Tribune. This UBS USD Money Market Investment Fund Token (uMINT) is based on Ethernet Distributed Ledger Technology (DLT). The fund offers investors a risk-controlled, institutional-grade cash management solution that supports high-quality money market instruments.

Previously, UBS launched a live pilot of a tokenized Variable Capital Company (VCC) fund in October 2023 as an industry partner of the Monetary Authority of Singapore's Project Guardian. UBS issued a RMB 200 million (S$37.16 million) digital structured note for a third party in June 2023 and completed the world's first cross-border repo transaction fully executed and settled on a public blockchain in November of the same year.