Singapore, 1 November, 2024 – UBS Asset Management today announces the launch of “UBS USD Money Market Investment Fund Token” (“uMINT”), a Money Market investment built on Ethereum distributed ledger technology.
Thomas Kaegi, Co-Head of UBS Asset Management APAC, said, “We have seen growing investor appetite for tokenized 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.”
Tokenholders can now access UBS Asset Management’s institutional grade cash management solutions underpinned by high quality money market instruments based on a conservative, risk-managed framework.
UBS Asset Management’s global distributed ledger technology strategy is focused on leveraging public and private blockchains 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 tokenized Variable Capital Company (VCC) fund.
More broadly, this fund launch also forms part of the broader expansion of UBS’s tokenization services through UBS Tokenize where in June 2023, UBS originated CNH 200 million 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.
About UBS
About UBS
UBS is a leading and truly global wealth manager and the leading universal bank in Switzerland. It also provides diversified asset management solutions and focused investment banking capabilities. With the acquisition of Credit Suisse, UBS manages 5.7 trillion dollars of invested assets as per fourth quarter 2023. UBS helps clients achieve their financial goals through personalized advice, solutions and products. Headquartered in Zurich, Switzerland, the firm is operating in more than 50 markets around the globe. UBS Group shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
About UBS Tokenize
UBS has been expanding its digital asset capabilities offering through UBS Tokenize, its in-house tokenization service, which seeks to open the door to the world of decentralized finance reduce barriers and provide access to products and services to a broader range of market participants, bringing them closer together. UBS Tokenize supports opportunities throughout the whole asset lifecycle including origination, issuance, distribution, and custody - initially focusing on tokenization of bonds, funds, and structured products.
Media contact
Julie Yeo +65 9673 4433; julie.yeo@ubs.com
Adeline Lee +65 9753 2480; adeline.lee@ubs.com
Kate Oei +65 9271 2077; kate.oei@ubs.com
