The post BREAKING: A Big Milestone for Ethereum – 3 Trillion Dollars Managing Company Takes the Step appeared on BitcoinEthereumNews.com.

UBS, which manages $3 trillion, has launched its first money fund on the Ethereum blockchain. Swiss banking giant UBS is entering the blockchain arena by launching a tokenized investment fund on Ethereum. UBS joins BlackRock and Franklin Templeton, both of which recently launched tokenized funds backed by U.S. Treasury bonds. The funds have a combined value of $530 million and $410 million, respectively, according to RWA.xyz. UBS’s latest offering, called the USD Money Market Investment Trust Token (uMINT), will be backed by “money market instruments,” according to the bank’s Friday news release. While details on the inclusion of U.S. Treasury assets were not provided, the move marks a notable step in the bank’s expansion into blockchain-based finance. Thomas Kaegi, co-head of Asia at UBS Asset Management, noted the momentum behind this decision: “We have seen increasing investor appetite for tokenized financial assets across asset classes.” *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/breaking-a-big-milestone-for-ethereum-3-trillion-dollars-managing-company-takes-the-step/

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Filed under: News - @ November 2, 2024 2:02 am