Investment bank UBS has launched its first tokenized investment fund Money Market Fund on the Ethereum blockchain.
UBS, following #BlackRock and Franklin Templeton, has begun to explore the possibilities of tokenizing real assets.
Investment giant UBS, the world's largest private bank, today announced the launch of uMINT, the next fund.
'UBS USD Money Market Investment Fund Token.
'Tokenized Investment Fund on the #Ethereum blockchain'.
UBS did not disclose which financial instruments will be included in the fund, but according to a press release, the fund will offer investors
high quality money market instruments based on a conservative risk management framework.
Investor appetite for tokenized financial assets across all asset classes is growing, said Thomas Kaegi, co-head of Asia at UBS.
According to the RWA. xyz panel, Ethereum is currently the largest #blockchain for tokenizing real assets, with more than $3 billion worth of assets tokenized on the network According to the RWA. xyz, assets worth about $3.9 billion, excluding personal loans. currently, about $3.9 billion worth of assets, excluding personal loans, have been tokenized on the blockchain, with U. S. Treasuries accounting for the majority.
According to the panel, the value of tokenized assets on ethereum has risen nearly 4% over the past 30 days. BlackRock $BUIDL has the largest market capitalization among instruments holding U. S. Treasury bonds with a market capitalization of more than $523 million, while Franklin Templeton $FOBXX On-Chain US Government Money Fund has a market capitalization of about $ 408 million.
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