UBS Asset Management has introduced a tokenized investment vehicle called "uMINT" based on Ethereum. This fund is aimed at authorized distribution partners in Singapore and aims to meet the increasing demand for tokenization in the financial industry.
By converting traditional assets into digital tokens, UBS enables the trading and holding of these assets on a blockchain, making them more accessible to investors. The uMINT fund offers investors access to money market assets within a risk-managed framework. UBS has previously utilized permission-required tokens on the public Ethereum network and is now utilizing both public and private blockchain technologies as part of its UBS Tokenize initiative.
Thomas Kaegi, co-head of UBS Asset Management APAC, highlights the growing interest in tokenized financial assets across different asset classes and emphasizes the firm's commitment to delivering innovative solutions through its global capabilities and regulatory partnerships. The launch of uMINT aligns with the trend of tokenized money market funds, which provide secure options for cash management and revenue generation, primarily catering to the crypto investor class.