UBS launches the first tokenized investment fund based on Ethereum
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.