UBS Asset Management has launched “UBS USD Money Market Investment Fund Token” (“uMINT”) on Ethereum.
Takeaway Points
- UBS Asset Management launches “uMINT” on Ethereum.
- The fund launch forms part of the broader expansion of UBS’s tokenization services through UBS Tokenize.
- On Oct 8, 2024, UBS sponsored the 27th Beijing Music Festival to promote global unity.
UBS first tokenized investment fund
UBS Asset Management on Friday announced the launch of “UBS USD Money Market Investment Fund Token” (“uMINT”), a Money Market investment built on Ethereum distributed ledger technology.
Thomas Kaegi, Co-Head of UBS Asset Management APAC, commented, “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.”
What is the focus of UBS Asset Management?
The UBS Asset Management’s global distributed ledger technology strategy is focused on leveraging public and private blockchain networks for enhanced fund issuance and distribution. As an active industry partner of The Monetary Authority of Singapore’s Project Guardian initiative, in October 2023 UBS Asset Management launched a live pilot of a tokenized Variable Capital Company (VCC) fund, UBS said.
The Investment Fund
According to the report, the fund launch forms part of the broader expansion of UBS’s tokenization services through UBS Tokenize, where in June 2023, UBS originated CNH 200 million of fully digital structured notes for a third-party issuer.
UBS sponsored the 27th Beijing Music Festival to Promote Global Unity
On Oct 8, 2024, UBS said it sponsored the 27th Beijing Music Festival (“BMF”) and presented a diversified series of concerts and community programs, featuring globally celebrated artists and performing groups. These initiatives underscore UBS’s enduring commitment to fostering global musical connections, local community engagement, and cultural development.
Janice Hu, UBS China Country Head, said, “UBS has been supporting the communities where we operate for many decades. This year marks the 19th anniversary of the partnership between UBS and BMF. We are honored to be able to continue our support in this international event for musical connections and cultural exchanges, while demonstrating our long-term commitment to public culture and education through various community programs.”
About UBS
UBS is a leading and truly global wealth manager and the leading universal bank in Switzerland. It also provides diversified asset management solutions and focused investment banking capabilities. With the acquisition of Credit Suisse, UBS manages 5.7 trillion dollars of invested assets as per fourth quarter 2023. UBS helps clients achieve their financial goals through personalized advice, solutions and products. Headquartered in Zurich, Switzerland, the firm is operating in more than 50 markets around the globe. UBS Group shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
About UBS Tokenize
UBS has been expanding its digital asset capabilities offering through UBS Tokenize, its in-house tokenization service, which seeks to open the door to the world of decentralized finance reduce barriers and provide access to products and services to a broader range of market participants, bringing them closer together. UBS Tokenize supports opportunities throughout the whole asset lifecycle including origination, issuance, distribution, and custody – initially focusing on tokenization of bonds, funds, and structured products.
