UBS Asset Management Launches First Tokenized Investment Fund on Ethereum, uMINT

UBS Asset Management has just rolled out its first tokenized investment fund on the Ethereum platform. This new fund is called the UBS USD Money Market Investment Fund Token, or uMINT for short.

According to a statement from the global wealth manager, uMINT will be available through authorized distribution partners. This is an exciting step for UBS, which manages over $5.7 trillion in assets as of March 2024.

Thomas Kaegi, co-head of UBS Asset Management in the Asia-Pacific region, shared some insights. He noted, “We have seen growing investor appetite for tokenized financial assets across asset classes.” He emphasized that by leveraging their global capabilities and collaborating with peers and regulators, UBS can offer clients an innovative solution.

Last year, UBS launched a live pilot program for a tokenized Variable Capital Company (VCC) fund in Singapore. This initiative aims to bring real-world assets onto the blockchain. UBS is focused on using both public and private blockchain networks to enhance how funds are issued and distributed.

In related news, financial services firm Franklin Templeton recently launched its U.S. Government Money Fund (FOBXX). This fund invests in U.S. government securities, cash, and repurchase agreements. It’s available on Coinbase’s layer-2 chain, Base.