UBS, which manages $3 trillion Ethereum launched the first monetary fund on the blockchain.
Swiss banking giant UBS is stepping into the blockchain arena by launching a tokenized investment fund on Ethereum.
UBS joins BlackRock and Franklin Templeton, which have both recently launched tokenized funds backed by U.S. Treasuries. According to RWA.xyz, the total value of these funds is $530 million and $410 million, respectively.
UBS’s latest product, called the USD Money Market Investment Fund Token (uMINT), will be backed by “money market instruments,” according to the bank’s Friday news release. Although details on the inclusion of U.S. Treasury holdings were not provided, the move marks a notable step in the bank’s expansion into blockchain-based finance.
Thomas Kaegi, co-head of UBS Asset Management’s Asia division, noted the momentum behind this decision: “We have seen growing investor appetite for tokenized financial assets across asset classes.”
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/son-dakika-ethereum-icin-buyuk-donum-noktasi-3-trilyon-dolari-yoneten-sirket-adimi-atti/
