UBS Asset Management has introduced its first tokenized fund, called the "UBS USD Money Market Investment Fund Token" (uMINT), on the Ethereum blockchain.

This move is in response to the growing demand from investors for tokenized financial assets. UBS, which manages $5.7 trillion in assets, aims to provide investors with a secure and well-managed money market investment product through authorized distribution partners.

Thomas Kaegi, Co-Head of UBS Asset Management APAC, emphasized the increasing interest in tokenized financial assets across different asset classes. He also highlighted UBS's commitment to advancing digital finance and its collaboration with regulators and industry partners to enhance its product offerings in this area.

The launch of the uMINT fund is part of UBS's broader blockchain strategy, which includes significant milestones such as the completion of the world's first cross-border repurchase transaction of a natively-issued digital bond on a public blockchain in November 2023. In addition, UBS previously issued CNH 200 million in fully digital structured notes for a third-party issuer in June 2023 and participated in Singapore's Project Guardian to pilot a tokenized Variable Capital Company fund last year, further establishing its leadership in institutional blockchain finance.