UBS Asset Management has announced the launch of a “tokenized money market fund” pilot program on Ethereum (ETH). The pilot program, led by the Monetary Authority of Singapore (MAS), uses UBS Tokenize, the company’s in-house tokenization service, to manage fund subscriptions and redemptions through a smart contract. This initiative is part of UBS’s global strategy to enhance fund issuance and distribution by utilizing distributed ledger technology (DLT) on both public and private blockchain networks. Following the successful launch of the first pilot transactions, UBS Asset Management will be looking to execute further live pilot use cases under Project Guardian, working with a wider set of partners and exploring various investment strategies. Thomas Kaegi, Head of UBS Asset Management, Singapore & Southeast Asia, commented on the milestone, “This is a key milestone in understanding the tokenization of funds, building on UBS’s expertise in tokenizing bonds and structured products. Through this exploratory initiative, we will work with traditional financial institutions and fintech providers to help understand how to improve market liquidity and market access for clients.”

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Information	Details
Geography	Asia
Countries	🇸🇬 🇲🇾
Sentiment	positive
Relevance Score	10
People	Don’t Miss a Beat, Facebook, Thomas Kaegi, Telegram, Twitter
Companies	UBS Asset Management, Monetary Authority of Singapore (MAS), UBS Tokenize, Project Guardian, None
Currencies	Singapore Dollar, Ethereum, Bitcoin
Securities	None