UBS Launches uMINT Tokenized Investment Fund on Ethereum, Reports CMCNews

Nov 6, 2024, 11:43 AM

UBS has launched its first tokenized investment fund, named uMINT, or the UBS USD Money Market Investment Fund Token, on the Ethereum blockchain, as reported by CMCNews. This move marks a significant step for UBS in the digital asset space. The launch comes shortly before Citi and Fidelity announced their own on-chain money market fund. Additionally, JPMorgan has rebranded its blockchain platform Onyx to Kinexys and will soon offer instant settlement for foreign-exchange conversions between the dollar and the euro via this platform. Kinexys has already processed $1.5 trillion in volume, with $2 billion flowing daily.