ChainCatcher news, according to the Straits Times, UBS announced the global launch of its first tokenized money market fund, starting from Singapore. This UBS Dollar Money Market Investment Fund Token (uMINT) is based on Ethereum distributed ledger technology (DLT). The fund offers investors a controlled-risk institutional-grade cash management solution, supporting high-quality money market instruments.Previously, UBS, as an industry partner in the Monetary Authority of Singapore's "Project Guardian," launched a live pilot for tokenized Variable Capital Company (VCC) funds in October 2023. In June 2023, UBS issued 200 million RMB (37.16 million SGD) in digital structured notes for third parties and completed the world's first cross-border repurchase transaction fully executed and settled on a public blockchain in November of the same year.

ChainCatcher news, according to Foresight News, at the 2023 Shanghai Blockchain International Week · Global Blockchain Summit hosted by Wanxiang Blockchain Lab, during the roundtable discussion on "Is Web3 on the Eve of Mass Adoption?", Liang Hanjing, the head of the Financial and Fintech Promotion Unit of the Hong Kong SAR Government, stated that analogizing the stages of internet development, if we divide the stages from 1 to 10, Web3 is currently at stage 3. The Hong Kong government believes that at this stage, it is essential to establish a solid foundation in regulation, law, and other infrastructures.In terms of opportunities for mass adoption of Web3, he shared insights from the financial sector, indicating that Hong Kong banks and the Monetary Authority will issue stablecoin licenses early next year. Currently, several countries, including Singapore and Canada, are very interested in stablecoins. The application scenarios for stablecoins include cross-border payments, etc. For emerging markets like Africa and Latin America, where currency devaluation and inflation are severe, there is a high demand for stablecoin payments, but users face the risk of service providers running away. Therefore, if licensed stablecoins are issued, a friendly regulatory environment will promote new technologies and tools.Liang Hanjing stated that a killer application does not necessarily have to be innovative; traditional products can also be improved. Therefore, from the perspective of Hong Kong and its positioning within the country, using RWA and STO for financing may become a killer application. Because Hong Kong serves as an international asset financing hub, the cost of listing on the Hong Kong Stock Exchange generally ranges from 20 million to 30 million HKD, but if financing is done through RWA and STO, a 3% fee can be saved, thus reducing costs. He mentioned that in the past, the invested capital generally remained untouched for ten years, but due to the economic environment in recent years, the exit time for funds has become shorter. Therefore, using STO and RWA for financing can shorten the exit time to one year, improving liquidity.