UBS pilots money market fund tokenization on Ethereum

Odaily Planet Daily News UBS Asset Management (UBS) has conducted a money market fund tokenization pilot on the Ethereum chain. This is one of the pilots of the Monetary Authority of Singapore (MAS) "Guardian Plan". A key advantage of fund tokenization is that by expanding coverage to increase liquidity and expand the investor base, high net worth individuals may be able to invest in funds that were previously only available to institutions. In the first pilot transaction, UBS Asset Management executed the tokenized subscription and redemption of the fund in the form of a smart contract, and plans to work with more partners to explore other investment strategies in further pilots. Thomas Kaegi, head of asset management for Singapore and Southeast Asia at UBS, said: “This is an important milestone in understanding the tokenization of funds and builds on UBS’s expertise in the tokenization of bonds and structured products. Through this exploration In this initiative, we will work with traditional financial institutions and fintech providers to help understand how to improve market liquidity and market access for customers." (ledgerinsights)