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UBS Expands Tokenization Horizons with Ethereum-Based Money Market Fund

UBS Asset Management, a major global fund management company, has initiated its inaugural “live pilot” of a tokenized money market fund on the Ethereum blockchain. UBS is leveraging its proprietary service, UBS Tokenize, to explore on-chain processes like subscriptions and redemptions. Through this pilot program, UBS Asset Management aims to conduct various fund-related activities on the blockchain, including subscriptions and redemptions. UBS states that this development is part of the broader Project Guardian, an initiative overseen by the Monetary Authority of Singapore. After the successful implementation of initial transactions, UBS Asset Management plans to expand the initiative’s scope.

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