UBS Asset Management, the fund affiliate of Switzerland’s largest bank, UBS, has launched a pilot of a major tokenized money market fund.
One of the largest organizations in the world UBS Asset Managementgreater than tokenization My name came. by company October 2 In a statement made on Monday, Ethereum (ETH) It was stated that the pilot application of the tokenized money market fund operating on the blockchain has been launched.
UBS emphasized that it leveraged its in-house tokenization service, UBS Tokenize, to launch the fund’s pilot. However, the fund in question Monetary Authority of Singapore (MAS) supporting industry initiative managed by Project Guardian It was stated that it was a part of
Tokenization studies off-chain real world assets traded on the blockchain to follow up, to buying and selling, to programming And to the management will allow.
Head of UBS Wealth Management in Singapore and Southeast Asia Thomas Kaegi He made the following statements in his statement on the subject:
This is a significant milestone in understanding the tokenization of funds, building on UBS’ expertise in tokenizing bonds and structured products. Through this exploratory initiative, we will work with traditional financial institutions and fintech providers to help understand how we can improve market liquidity and market access for customers.