UBS, the world's largest private bank, has launched uMINT (UBS USD Money Market Investment Fund Token), an investment fund tokenized on the Ethereum blockchain.
According to UBS, the fund offers access to high-quality money market instruments within a conservative, risk-managed framework.
Thomas Kaegi, co-head of UBS's Asian arm, has stated there is a growing demand for tokenized financial assets across different asset classes.
With more than $3 billion in tokenized assets on the network, Ethereum is currently the leading blockchain for real-world asset tokenization.
There are approximately $3.9 billion worth of tokenized assets on the blockchain, excluding private credit, with US Treasury debt being the largest subset.