Ethereum

Bank

2024

Thomas

Gelato

<h4><strong>It’s called the “UBS USD Money Market Investment Fund Token” or “uMINT.”</strong></h4> 
<p>This fund is based on a technology called blockchain, specifically using Ethereum’s distributed ledger technology. But what does this mean for investors? Why is it important? Let’s discover more about this important news for UBS.</p> 
<h5><strong>What is the uMINT Fund?</strong></h5> 
<p>The <a href="https://www.ubs.com/global/tc/media/display-page-ndp/en-20241101-first-tokenized-investment-fund.html" target="_blank" rel="noopener">uMINT fund</a> is a “money market” fund, which means it focuses on safer, short-term investments. This makes it ideal for people who want their money to grow a little, without taking big risks. UBS designed uMINT for investors who want to invest digitally in high-quality money market instruments while sticking to a conservative, risk-managed approach.</p> 
<p>UBS chose to build uMINT on <a href="https://www.altcoinbuzz.io/?s=ethereum+blockchain" target="_blank" rel="noopener">Ethereum’s blockchain</a> because of its secure way of recording and tracking transactions. By using blockchain, UBS can offer its investors a transparent and efficient way to invest, making it easier to manage funds and track progress. Thomas Kaegi, a UBS leader, said the company has seen “growing investor appetite” for assets on the blockchain.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">NEW<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"><br> Another Bank is tokenizing on <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a>!</p> 
 <p>UBS Asset Management launches its first tokenized investment fund<br> This first fund, a Money Market investment built on Ethereum distributed ledger technology, will be available through authorized distribution partners… <a href="https://t.co/K4I8Icf84i">pic.twitter.com/K4I8Icf84i</a></p> 
 <p>— Tony Edward (Thinking Crypto Podcast) (@ThinkingCrypto1) <a href="https://twitter.com/ThinkingCrypto1/status/1852439648422818256?ref_src=twsrc%5Etfw">November 1, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>UBS has been exploring blockchain technology as part of a broader plan to expand its digital services. Earlier this year, the company <a href="https://www.ubs.com/global/en/investment-bank/tokenize.html" target="_blank" rel="noopener">launched</a> other “tokenized” assets, which are digital forms of traditional investments. For example, in June 2023, UBS created fully digital notes in Chinese currency for another company.</p> 
<p>In November 2023, UBS <a href="https://www.ubs.com/global/en/media/display-page-ndp/en-20231115-ubs-sbi-dbs-completed-worlds-first-cross-border.html" target="_blank" rel="noopener">completed</a> the world’s first cross-border transaction using a digital bond on a public blockchain. They’re paving the way for other banks by “testing the waters” and showing what’s possible with blockchain.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">Prediction: <a href="https://twitter.com/UBS?ref_src=twsrc%5Etfw">@UBS</a> $3.9T wealth management<br> portfolio will be managed on a custom L2.</p> 
 <p>UBS launches a tokenized fund on <a href="https://twitter.com/ethereum?ref_src=twsrc%5Etfw">@Ethereum</a><br> to bring real-world assets onchain.</p> 
 <p>Yet, is Ethereum the right platform?<br> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"> SECURITY<br> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26d4.png" alt="⛔" class="wp-smiley" style="height: 1em; max-height: 1em;"> SCALABILITY<br> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26d4.png" alt="⛔" class="wp-smiley" style="height: 1em; max-height: 1em;"> USER EXPERIENCE</p> 
 <p>NEW chains built with Gelato’s… <a href="https://t.co/Q6mCF5mVzw">pic.twitter.com/Q6mCF5mVzw</a></p> 
 <p>— Gelato (@gelatonetwork) <a href="https://twitter.com/gelatonetwork/status/1717881866898882672?ref_src=twsrc%5Etfw">October 27, 2023</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>UBS is also <a href="https://www.mas.gov.sg/schemes-and-initiatives/project-guardian" target="_blank" rel="noopener">working</a> with the Monetary Authority of Singapore (MAS) on a project called “Project Guardian.” This project is testing how blockchain can improve financial services. In October 2023, UBS launched a live test of a digital fund in Singapore, showing that they’re not just talking about innovation – they’re doing it.</p> 
<p>The launch of the uMINT fund shows that UBS is bringing modern technology to traditional investments. With uMINT, UBS is giving people an option that’s “the best of both worlds”: the stability of a money market fund and the convenience of digital technology. For investors, this could mean more security, easier access, and faster transactions.</p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/ubs-launches-digital-money-market-fund-on-ethereum/">UBS Launches Digital Money Market Fund on Ethereum</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

UBS Launches Digital Money Market Fund on Ethereum

Altcoin Buzz

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