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Will UBS's uMINT fund face regulatory challenges in Singapore by mid-2025?
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Reports from Singapore financial regulatory authorities or news outlets
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UBS Launches $3T AUM uMINT, First Ethereum-Based Tokenized Fund
Nov 1, 2024, 11:37 PM
UBS Asset Management has launched its first tokenized money market fund, the UBS USD Money Market Investment Fund Token (uMINT), on the Ethereum blockchain. This fund is specifically tailored for users in Singapore and aims to challenge key players in the real-world assets segment, including BlackRock. UBS's initiative is part of a broader trend among traditional financial institutions, such as Franklin Templeton and BBVA Asset Management, to explore tokenized financial products. The fund leverages Ethereum distributed ledger technology (DLT) to provide institutional investors with secure, low-risk cash management options. This move marks a significant step in integrating blockchain technology into traditional finance, potentially bridging the gap between decentralized finance (DeFi) and traditional financial systems. UBS, with $3T AUM, launched uMINT on November 1, 2024.
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