Can you imagine a traditional bank launching a crypto product? This isn’t just something out of a movie or Netflix! It’s becoming the new normal! The Swiss bank UBS has launched a tokenized fund on the Ethereum blockchain, recognizing the growing interest from investors in tokenized financial assets.

In a November 1 announcement, the bank introduced its money market fund, built on Ethereum, as the "UBS USD Money Market Investment Fund Token," also known as “uMINT.”

Thomas Kaegi, UBS’s co-head for APAC, explained that the company has “seen a rise in investor interest in tokenized financial assets across various asset classes.”

Crypto industry analysts are optimistic and believe this initiative could have a positive effect on Ether’s price. $ETH