UBS Launches uMINT, a Tokenized Money Market Fund on Ethereum for Institutional Investors

Nov 4, 2024, 04:51 AM

UBS Asset Management has launched uMINT, a tokenized money market fund on the Ethereum blockchain, aimed at providing institutional investors with secure and low-risk cash management solutions. This initiative is part of UBS's broader UBS Tokenize program, which integrates both public and private blockchain networks. The fund represents a significant shift in wealth management strategies, reflecting the growing trend of traditional financial institutions embracing digital assets and blockchain technology. The launch follows a similar move by BBVA, the second largest bank in Spain, which has also introduced a tokenized fund under the regulatory Sandbox of the Spanish National Securities Market Commission.