- UBS Asset Manager has launched its first tokenized money market fund, uMINT, in Singapore.
- The fund is built on Ethereum’s distributed ledger technology.
UBS Asset Management is making waves in the digital finance world by launching its first-ever tokenized money market fund, the UBS USD Money Market Investment Fund Token (uMINT), starting in Singapore. This innovative fund, built on Ethereum’s distributed ledger technology, aims to provide investors with a secure and efficient cash management solution, targeting high-quality money market instruments while maintaining controlled risk.
As a $5.7 trillion firm, UBS is the latest traditional asset manager to adopt tokenized solutions. This move joins a growing list of institutional players adapting to decentralized technology. With $4 trillion in total invested assets as of Q3 2024, this marks a significant step into the realm of tokenization for the firm.
Thomas Kaegi, Co-Head of UBS Asset Management in Asia Pacific, emphasized the firm’s commitment to expanding its tokenized asset offerings.
However, uMINT follows UBS’s previous blockchain initiatives, including participation in Singapore’s Project Guardian. This showcasing its dedication to embracing digital innovations in finance. As the first of its kind for UBS, uMINT stands to attract attention and signals a new era for the firm in the evolving landscape of investment management.
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