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UBS Asset Management has launched its first tokenized investment fund, the UBS USD Money Market Investment Fund Token (uMINT), on the Ethereum blockchain, targeting institutional investors seeking secure cash management. This initiative aligns with UBS's broader strategy to integrate blockchain technology into its services, enhancing operational efficiency and transparency. The firm has also been active in developing tokenized financial solutions, including participation in the Monetary Authority of Singapore’s Project Guardian.
Sygnum, a Swiss bank specializing in digital assets, has opened an office in Lugano to enhance local services and support the city's Bitcoin initiative, Plan B. This move aims to foster collaboration within Lugano's growing digital ecosystem and includes the launch of Bitcoin@Sygnum to promote partnerships and research in the Bitcoin space. Mayor Michele Foletti emphasized the importance of this development for Lugano's economic growth and innovation in blockchain technology.
Sygnum, a Swiss digital asset banking group, has registered its subsidiary with the Liechtenstein financial regulator, enabling it to offer regulated services in the EU under the upcoming MiCA framework. This strategic move allows Sygnum to expand its digital asset services, including brokerage and custody, across the European Economic Area, with full access to 30 markets anticipated by early 2025. Additionally, the company is pursuing growth in Asia, focusing on Hong Kong and Singapore.
Digital asset bank Sygnum has secured regulatory approval to operate in Liechtenstein, positioning itself for expansion into the EU as the Markets in Crypto-Assets Regulation (MiCA) takes effect. Originally established in Switzerland in 2019, Sygnum is now licensed as a crypto asset service provider, offering brokerage, custody, and B2B banking services. With a network of over 20 partner banks and recent funding of $40 million, Sygnum aims to leverage its experience in the competitive European market.
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UBS launches tokenized money market fund on Ethereum for institutional investors
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17:16 01.11.2024
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