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UBS has launched the USD Money Market Investment Fund Token (uMINT) on Ethereum, marking a significant step in its tokenization strategy. This initiative aims to merge traditional finance with blockchain technology, providing qualified investors with a digital-first money market fund.The launch follows strong earnings in Asia, where UBS Global Wealth Management's assets under management reached $678 billion in Q3 2024, reflecting a robust recovery. The bank's global AUM rose 18% year-on-year to $4.3 trillion, despite facing integration-related losses.
UBS Asset Management has launched its first tokenized Money Market Fund, "uMINT," in partnership with DigiFT. This fund allows investors to subscribe using their preferred custody wallet and offers real-time redemption capabilities, leveraging Ethereum's blockchain technology for enhanced transparency and efficiency. DigiFT, recognized as a licensed exchange by the Monetary Authority of Singapore, will manage on-chain distribution and compliance through smart contracts, bridging traditional finance with decentralized technologies.
UBS Asset Management has launched its first tokenized fund, the "UBS USD Money Market Investment Fund Token" (uMINT), utilizing Ethereum's distributed ledger technology. This initiative responds to increasing investor interest in tokenized assets and aims to provide access to institutional-grade cash management solutions. The fund will be distributed through authorized partners, marking a significant step in UBS's broader strategy to enhance fund issuance and distribution via blockchain technology.
UBS Asset Management has launched its first tokenized investment fund, the "UBS USD Money Market Investment Fund Token," utilizing Ethereum's distributed ledger technology. This initiative reflects the growing demand for tokenized financial assets and is part of UBS's broader blockchain efforts, including a pilot tokenized Variable Capital Company fund in collaboration with Singapore's Monetary Authority.
GLP Pte, a major Asian logistics operator, has canceled its dollar bond sale, marking its first attempt to return to the bond market since 2021. The decision reflects ongoing concerns about the company's financial health, as it struggled to generate sufficient demand for its desired pricing. Following this, GLP also withdrew a tender offer for existing notes.
Apollo Global Management Inc. plans to double its private wealth headcount in the Asia Pacific region over the next two to three years, focusing on Japan, Korea, and Australia. The firm will also enhance its teams in Singapore and Hong Kong, according to Edward Moon, head of Asia Pacific global wealth management.
UBS Asset Management has launched its first tokenized investment fund, the UBS USD Money Market Investment Fund Token, utilizing Ethereum blockchain technology. This move reflects a growing investor interest in tokenized financial assets, with projections suggesting that assets under management in such funds could reach $600 billion by 2030. The firm is expanding its tokenization services, having previously piloted a tokenized Variable Capital Company fund and completed a cross-border transaction with a digital bond on a public blockchain.
UBS has officially launched the UBS USD Money Market Investment Fund Token (uMINT) on Ethereum, following a successful experimental project with the Monetary Authority of Singapore. This move highlights the bank's commitment to blockchain technology and reflects increasing investor interest in tokenized financial assets. With $5.7 trillion in assets under management, UBS continues to innovate in the financial sector, paralleling offerings from firms like BlackRock.
UBS has launched the "UBS USD Money Market Investment Fund Token" (uMINT), a tokenized money market fund utilizing Ethereum's blockchain, aimed at institutional investors. This initiative reflects growing interest in digital assets and is supported by Singapore's favorable regulatory environment, enhancing transparency and security through decentralized technology. The fund promises improved liquidity and faster transactions, positioning UBS alongside other major financial institutions venturing into tokenized solutions.
UBS Asset Management has launched "uMINT," the first tokenized money market fund available through DigiFT, allowing investors to subscribe via their preferred custody wallet. Utilizing Ethereum's distributed ledger technology, uMINT offers real-time redemption opportunities and is designed with a conservative, risk-managed framework. DigiFT will manage on-chain distribution and transactions, enhancing operational efficiencies through smart contracts and providing an immutable ledger for transparency.
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