TechFlow news — On November 1, according to The Straits Times, UBS Asset Management announced the launch of its first tokenized money market fund, uMINT, in Singapore. Built on Ethereum's distributed ledger technology (DLT), the fund aims to provide institutional investors with a cash management solution featuring controlled risk.
Thomas Kaegi, Co-Head of UBS Asset Management in Asia Pacific, said the firm has observed growing investor demand for tokenized financial assets across asset classes, and this innovative solution will meet client needs.
In October, the bank launched a pilot for a tokenized variable capital company fund as part of the Monetary Authority of Singapore’s “Project Guardian.” Additionally, in June, UBS issued RMB 200 million worth of digital structured notes and completed the world’s first cross-border repo transaction executed and settled on a public blockchain earlier this year.
