The move by UBS to launch a tokenized fund on Ethereum is like “putting ETH right into the heart of traditional finance,” says one crypto commentator.
The Union Bank of Switzerland (UBS) has rolled out a tokenized fund on the Ethereum blockchain network after highlighting the increasing interest among investors for tokenized financial assets.
In a Nov. 1 statement, the bank launched the money market fund built on the Ethereum network as the “UBS USD Money Market Investment Fund Token,” also known as the “uMINT.”
UBS APAC co-head Thomas Kaegi explained that the firm has “seen a growing investor appetite for tokenized financial assets across asset classes.”
