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UBS, the world’s largest private bank, announced the debut of uMINT—a new tokenized money market fund called “UBS USD Money Market Investment Fund Token” on the Ethereum blockchain. According to UBS, uMINT will give investors access to high-quality money market instruments within a carefully managed risk framework. This strategic move taps into the increasing demand for tokenized financial assets, leveraging Ethereum’s robust capabilities for asset tokenization.
Thomas Kaegi, co-head of UBS’s Asian operations, highlighted the growing investor interest in diversified tokenized assets. Ethereum, hosting over $3 billion in tokenized assets, remains the leading blockchain platform for this innovative financial approach. Currently, the blockchain ecosystem holds nearly $3.9 billion in various asset classes, excluding private credit, with U.S. Treasury Debt being the predominant category.
This development reflects a broader trend in the financial sector, where the value of assets tokenized on Ethereum has surged by almost 4% in the last month alone. With BlackRock and Franklin Templeton already establishing significant presences in this space, UBS’s uMINT is set to further revolutionize the landscape of investment opportunities through blockchain technology.
