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UBS, the world’s largest private bank, today announced the launch of its first tokenized money market investment fund on the Ethereum blockchain, called uMINT (UBS USD Money Market Investment Fund Token). UBS is the latest investment bank to explore the tokenization of real-world assets, following giants like BlackRock and Franklin Templeton.
While UBS did not disclose exactly what financial instruments will be in the fund, it did say that it will provide investors with “access to high-quality money market instruments” and a conservative, risk-managed framework. “We are seeing an increasing appetite from investors for tokenized financial assets across asset classes,” said Thomas Kaegi, co-head of UBS’s Asia operations.
Ethereum is the largest blockchain network for tokenization of real-world assets, currently with over $3 billion in tokenized assets. According to the RWA.xyz dashboard, U.S. Treasury Debt is the largest portion of these assets. The value of tokenized assets on Ethereum has also increased by 4% in the last 30 days.
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BlackRock’s $BUIDL fund is the largest market cap U.S. Treasury product with over $523 million, while Franklin Templeton’s $FOBXX On-Chain U.S. Government Money Fund has a market cap of approximately $408 million. With UBS’s uMINT token, the possibilities of blockchain-based tokenization for investors are expanding.
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