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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
In a significant advancement for digital finance, Chainlink, Swift, and UBS successfully piloted a tokenized fund settlement system under Singapore's Project Guardian, integrating digital assets with existing fiat payment networks. This initiative aims to streamline fund subscription and redemption processes, addressing inefficiencies in traditional finance. UBS also launched the "UBS USD Money Market Investment Fund Token" (uMINT) on the Ethereum blockchain, reflecting growing investor interest in tokenized assets.
Swift, UBS, and Chainlink have launched a pilot project for the tokenization of funds, integrating blockchain into traditional finance to enhance efficiency and transparency. This initiative, part of Singapore's Guardian project, aims to streamline fund management and reduce operational costs through a hybrid payment system that allows both on-chain and off-chain transactions. UBS has introduced the "uMINT" tokenized fund on Ethereum, responding to institutional demand for innovative financial products that leverage blockchain technology.
Swift, UBS Asset Management, and Chainlink have successfully piloted a tokenized fund settlement program under Singapore's Project Guardian, enhancing market efficiency by integrating blockchain with existing fiat payment systems. This initiative aims to streamline fund transactions, reducing manual processes and improving liquidity in the $63 trillion mutual fund market. Despite promising results, industry-wide adoption remains a challenge, as highlighted by the Monetary Authority of Singapore.
Leong Sing Chiong
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11:14 06.11.2024
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