The asset management unit of UBS has launched its first-ever tokenized investment fund.
UBS Asset Management has launched the «UBS USD Money Market Investment Fund Token» – a money market fund built on Ethereum distributed ledger technology – according to a statement. This marks the first tokenized fund ever introduced by the firm.
«We have seen growing investor appetite for tokenized financial assets across asset classes. Through leveraging our global capabilities and collaborating with peers and regulators, we can now provide clients with an innovative solution,» commented Thomas Kaegi, co-head of UBS Asset Management APAC.
Blockchain Efforts
The latest fund launch is part of broader blockchain-related efforts at UBS.
In October 2023, UBS Asset Management launched a pilot of a tokenized Variable Capital Company (VCC) fund as a partner of the Monetary Authority of Singapore’s Project Guardian initiative. And in June 2023, 200 million Chinese yuan ($28 million) of fully digital structured notes were originated for a third-party issuer via UBS Tokenize.
