The post $5.7 Trillion Asset Giant UBS Unveils Ethereum-Powered MMF appeared on BitcoinEthereumNews.com.

UBS has introduced a tokenized money market fund built on the Ethereum blockchain, signaling a significant step towards embracing digital assets in traditional finance. As the $5.7 trillion firm joins a growing list of institutional players adopting tokenized solutions, this move highlights the increasing acceptance of decentralized technology. UBS Asset Management, a large-scale investment manager with a presence in 50 markets has announced the launch of “UBS USD Money Market Investment Fund Token” (“uMINT”), a Money Market investment built on Ethereum distributed ledger technology. In the official report released on November 1, Thomas Kaegi, the Co-Head of UBS Asset Management stated that the launch of uMINT came as a result of the growing investors’ appetite for tokenized financial assets across asset classes. To its advantage, the Monetary Authority of Singapore (MAS) has actively fostered the growth of digital assets, creating an ideal environment for UBS’s new offering. By establishing uMINT in Singapore, UBS aims to capitalize on this regulatory clarity to attract institutional investors who may be cautious about tokenized assets. This Singapore-based fund will utilize the Ethereum blockchain to offer investors an institutional quality cash management solution that relies on high-grade money market instruments while ensuring controlled risk. One of the most important facets of uMINT is the enhanced transparency provided by Ethereum. Every transaction within the fund will be recorded on a public ledger, allowing investors to verify the fund’s activities in real-time.  Security is a crucial consideration in investment management. To curb the long-standing security issue, Ethereum’s DLT provides a decentralized environment that minimizes the risk of fraud and hacking. Both institutional and retail investors can feel more secure about their investments in uMINT with advanced encryption models safeguarding assets. The tokenization of the Money Market Investment Fund Token can significantly enhance liquidity, facilitating quicker buying and…

---

Filed under: News - @ November 3, 2024 6:14 am