UBS Launches Tokenized Fund on Ethereum as Part of Monetary Authority of Singapore's Project Guardian | CoinMarketCap

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UBS Launches Tokenized Fund on Ethereum as Part of Monetary Authority of Singapore's Project Guardian

By Hope C 1m Created 1yr ago , last updated 1yr ago

UBS Asset Management has announced the launch of a tokenized Variable Capital Company (VCC) fund through a live pilot.

UBS Is Launching Tokenized Fund On Ethereum

UBS Asset Management has announced the launch of a tokenized Variable Capital Company (VCC) fund through a live pilot. The pilot is part of Project Guardian , an initiative led by the Monetary Authority of Singapore (MAS) to tokenize real-world assets. The VCC is a legal entity for investment funds in Singapore, introduced in 2020 to bolster the city-state's position as a fund management hub. UBS will leverage its in-house tokenization service, UBS Tokenize, to conduct a controlled pilot of a tokenized money market fund using Ethereum -based smart contracts to enable fund subscriptions and redemptions. UBS plans to collaborate with traditional financial institutions and fintech providers to enhance market liquidity and provide better market access for clients. UBS has previously launched the first publicly traded digital bond that is settled on both traditional exchanges and on the blockchain. Meanwhile, Citi recently expanded its digital asset services to include tokenized bond trading .

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Hope C

Observer of crypto markets and writer of all things crypto.

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