UBS Asset Management has launched its first tokenised investment fund.
The UBS USD Money Market Investment Fund Token, also known as ‘uMINT’, will be able to accessible to tokenholders via UBS Asset Management’s institutional-grade cash management solutions.
Thomas Kaegi, co-head of UBS Asset Management APAC, said: “We have seen growing investor appetite for tokenised financial assets across asset classes. Through leveraging our global capabilities and collaborating with peers and regulators, we can now provide clients with an innovative solution.”
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The firm said its global distributed ledger technology strategy is focused on leveraging public and private blockchain networks for enhanced fund issuance and distribution.
As an active industry partner of The Monetary Authority of Singapore’s Project Guardian initiative, in October 2023 UBS Asset Management launched a live pilot of a tokenised Variable Capital Company (VCC) fund.
This fund launch also forms part of the broader expansion of UBS’s tokenisation services through UBS Tokenize, where in June 2023 UBS originated CNH 200m of fully digital structured notes for a third-party issuer. And in November 2023, UBS completed the world’s first cross-border repurchase transaction with a natively-issued digital bond fully executed and settled on a public blockchain.
