UBS Asset Management has achieved a major milestone in the tokenization of real-world assets with the launch of its first live pilot of a tokenized Variable Capital Company (VCC) fund in Singapore. The fund is part of Project Guardian, an industry initiative led by the Monetary Authority of Singapore (MAS) to explore tokenizing various real-world assets.UBS utilized its in-house tokenization service UBS Tokenize to launch the pilot of a money market fund on the Ethereum blockchain. This enables activities such as fund subscriptions and redemptions to be carried out on-chain. UBS has been at the forefront of digital asset innovation, launching the world’s first publicly traded digital bond in November 2022, followed by a $50 million tokenized fixed-rate bond issued in December 2022 and over $28 million of tokenized structured notes in 2023.Following the successful pilot transactions, UBS Asset Management will look to execute further live use cases under Project Guardian, working with more partners to explore various investment strategies. Tokenization of funds is becoming increasingly popular among traditional funds and asset managers, with large institutions such as Franklin Templeton, KKR, and Hamilton Lane launching tokenized funds.

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Information	Details
Geography	Asia
Countries	🇸🇬 🇨🇭 🇺🇸
Sentiment	positive
Relevance Score	9
People	Franklin Templeton, KKR, Thomas Kaegi, Hamilton Lane
Companies	KKR, UBS Asset Management, Monetary Authority of Singapore (MAS), UBS Tokenize, Franklin Templeton, Hamilton Lane
Currencies	None
Securities	None