UBS launches tokenized treasury fund on Ethereum

Key takeaways

UBS Asset Management launched its first tokenized fund on the ethereum blockchain.
The bank manages $5.7 trillion in assets and aims to meet growing investor demand for tokenized financial assets.

UBS Asset Management announced today the launch of its first tokenized fund, the “UBS USD Money Market Investment Fund Token” (uMINT), on the ethereum blockchain.

UBS, which manages $5.7 trillion in assets, will enable investors to access a high-quality, risk-managed money market investment product through authorized distribution partners.

Thomas Kaegi, co-head of UBS Asset Management APAC, commented on the change, saying:

“We have seen growing investor appetite for tokenized financial assets across all asset classes.”

Kaegi underlined UBS's commitment to digital finance, citing the bank's work with regulators and industry partners to expand its product offering in this space.

The uMINT fund is part of UBS's broader blockchain strategy, which includes other tokenization milestones.

In November 2023, UBS completed the world's first cross-border repurchase transaction of a digital bond issued natively on a public blockchain, following its June 2023 issuance of 200 million CNH in fully digital structured notes for a external emitter.

The bank also worked with Singapore's Guardian Project to pilot a tokenized Variable Capital Company (VCC) fund last year, solidifying UBS's role as a leader in institutional blockchain finance.