UBSdeepensitscryptostrategywithanewtokenizedfund,followingdigitalbondtransactionsandstructurednoteissuances.
KeyTakeaways
UBSAssetManagementlauncheditsfirsttokenizedfundontheEthereumblockchain.
Thebankmanages$5.7trillioninassetsandaimstomeetgrowinginvestordemandfortokenizedfinancialassets.
UBSAssetManagementannouncedtodaythelaunchofitsfirsttokenizedfund,the“UBSUSDMoneyMarketInvestmentFundToken”(uMINT),onEthereum’sblockchain.
UBS,managing5.7trilliondollarsinassets,willallowinvestorsaccesstoahigh-quality,risk-managedmoneymarketinvestmentproductthroughauthorizeddistributionpartners.
ThomasKaegi,Co-HeadofUBSAssetManagementAPAC,commentedontheshift,saying,
“Wehaveseengrowinginvestorappetitefortokenizedfinancialassetsacrossassetclasses.”
KaegiunderscoredUBS’scommitmenttodigitalfinance,citingthebank’sworkwithregulatorsandindustrypartnerstoexpandtheirproductofferingsinthisspace.
TheuMINTfundisapartofUBS’slargerblockchainstrategy,whichincludesothertokenizationmilestones.
InNovember2023,UBScompletedtheworld’sfirstcross-borderrepurchasetransactionofanatively-issueddigitalbondonapublicblockchain,followingitsJune2023issuanceofCNH200millioninfullydigitalstructurednotesforathird-partyissuer.
ThebankalsoworkedwithSingapore’sProjectGuardiantopilotatokenizedVariableCapitalCompany(VCC)fundlastyear,solidifyingUBS’sroleasaleaderininstitutionalblockchainfinance.
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