- UBS launches its first tokenized money market fund, uMINT, built on Ethereum’s DLT for institutional investors.
- UBS predicts potential US dollar depreciation as global central banks tighten monetary policies and BRICS reduce reliance on USD.
UBS Asset Management has launched a pioneering tokenized money market fund in Singapore, known as the UBS USD Money Market Investment Fund Token (uMINT). Using Ethereum’s Distributed Ledger Technology (DLT) to maximize access for institutional investors.
Designed especially for this demographic, the uMINT fund gives investors a special, digital approach to interact with money market investments, where usually the stakes are high and efficiency is first priority.
The current tokenization action by UBS highlights a deliberate change in asset management towards digital assets, hence changing established fund structures to fit fast-changing market needs.
JUST IN : UBS Asset Management, one of the world's largest asset management companies, announced the launch of its first tokenized money market fund uMINT in Singapore. The fund is built on Ethereum distributed ledger technology (DLT) and aims to provide institutional investors.
— Crypto News Updates (@CryptoNewsUpd8s) November 1, 2024
UBS Leveraged Ethereum DLT for Efficiency, Security, and Investor Trust in uMINT
The fund uses DLT to simplify processes, therefore enabling faster transaction times, improved openness, and lower administrative expenses. Managing delicate financial instruments like a money market fund fits Ethereum’s DLT structure because of its strong infrastructure and reputation in the blockchain space.
UBS may also provide institutional investors confidence in the stability and performance of the fund by including it in this technology, therefore attaining better degrees of security and dependability than with more traditional fund structures.
Furthermore, the open character of DLT technology lets all transactions be safely recorded, hence lowering the fraud risk and raising general system confidence.
Launching uMINT in Singapore was decided upon strategically. Singapore has aggressively developed a friendly legislative framework for blockchain-based assets and has grown to be a worldwide center for digital finance.
Proactive in controlling and enabling the growth of digital assets, the Monetary Authority of Singapore (MAS) has created a perfect setting for UBS’s new offering.
By placing uMINT in Singapore, UBS hopes to leverage this regulatory certainty and draw a sizable pool of institutional investors who would have been hesitant to interact with tokenized assets in areas with more laws.
Beside that, CNF previously reported UBS’s cautious assessment of the US dollar’s future value, pointing out that positive interest rate differentials have always helped the currency to stay strong.
UBS warns that the support factors for the dollar are declining as global central banks tighten monetary policies and the BRICS countries actively seek to lessen their reliance on the dollar.
