The fund is a money market investment built on Ethereum distributed ledger technology.

UBS Asset Management has announced the launch of its first tokenised investment fund, UBS USD Money Market Investment Fund Token (uMINT), in a release on Nov 1.

The fund is a money market investment built on Ethereum distributed ledger technology. Token-holders will be able access UBS Asset Management’s institutional grade cash management solutions.

UBS Asset Management’s global distributed ledger technology strategy is focused on leveraging public and private blockchain networks for enhanced fund issuance and distribution.

According the Swiss bank, this fund launch forms part of the broader expansion of its tokenisation services through UBS Tokenize where in June 2023, UBS originated CNH 200 million of fully digital structured notes for a third-party issuer. 

Months later, UBS completed the world’s first cross-border repurchase transaction with a natively-issued digital bond fully executed and settled on a public blockchain.

Thomas Kaegi, co-head of UBS Asset Management Asia-Pacific, says: “We have seen growing investor appetite for tokenised 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."