USB, Switzerland’s largest bank, has launched a maiden tokenized investment fund on the Ethereum network, its first tokenized product on the network.
The banking giant, which manages assets worth $5.7 trillion, achieved a notable milestone after launching the asset. Named the USB USD Money Market Investment Fund Token (uMINT), the investment tool bridges the gap between traditional finance and digital technology.
uMINT holders would have exclusive access to USB’s institutional-level cash management solutions. The Ethereum-based digital token allows users to invest in the Switzerland-based bank’s money market instruments, which are characterized by a conservative, risk-averse framework.
