{"id":60620,"date":"2023-10-02T09:41:18","date_gmt":"2023-10-02T13:41:18","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=60620"},"modified":"2023-10-02T09:42:37","modified_gmt":"2023-10-02T13:42:37","slug":"ubs-bank-launches-tokenized-money-market-fund-on-ethereum","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ubs-bank-launches-tokenized-money-market-fund-on-ethereum\/","title":{"rendered":"UBS Bank Launches Tokenized Money Market Fund on Ethereum"},"content":{"rendered":"\n

Leading Swiss bank UBS has launched a tokenized money market fund on the Ethereum network<\/a> as a part of a wider Variable Capital Company (VCC) umbrella that brings various real-world assets to the blockchain<\/p>\n\n\n\n

\"UBS
UBS Bank Launches Tokenized Money Market Fund on Ethereum<\/figcaption><\/figure>\n\n\n\n

UBS Asset Management announced in a press release that the fund is part of a larger VCC umbrella that aims to introduce various types of real-world assets (RWA) to the blockchain. <\/p>\n\n\n\n

According to Thomas Kaegi, the head of UBS Asset Management \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>for Singapore and Southeast Asia, the initiative is a turning point in comprehending the tokenization of funds. Caegi stated:<\/p>\n\n\n\n

\n

\u201cThrough 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.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n

UBS Asset Management introduced a controlled pilot of a tokenized money market fund using UBS Tokenize, the company's tokenization service. The company conducted various operations using an Ethereum smart contract<\/a>, including redemptions and fund subscriptions.<\/p>\n\n\n\n

The pilot is also part of the company's global distributed ledger technology (DLT) strategy, which enhances fund distribution and issuance through private and public blockchains.<\/p>\n\n\n\n

The new development validates earlier forecasts regarding the tokenization of RWAs. During a panel discussion at the World Token Summit 2023, Ellis Wang, an adviser to the government of the United Arab Emirates, stated that tokenizing real-world assets offers numerous benefits, including blockchain-based transparency<\/a> and security. <\/p>\n\n\n\n

According to the executive, the tokenization of RWAs may gain traction as it presents innumerable industries with significant opportunities.<\/p>\n\n\n\n

Protocols concentrating on RWAs became a popular topic earlier this year as they outperformed other subsectors of decentralized finance (DeFi). On June 9, the year-to-date (YTD) token gains of an RWA tokenization platform initiative increased by up to 32%.<\/p>\n","protected":false},"excerpt":{"rendered":"

Leading Swiss bank UBS has launched a tokenized money market fund on the Ethereum network as a part of a wider Variable Capital Company (VCC) umbrella that brings various real-world assets to the blockchain UBS Asset Management announced in a press release that the fund is part of a larger VCC umbrella that aims to […]<\/p>\n","protected":false},"author":1,"featured_media":17043,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[4413,16618,16616],"class_list":["post-60620","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ethereum-network","tag-tokenized-money-market-fund","tag-ubs-bank"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/01\/image-194.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/60620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=60620"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/60620\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/17043"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=60620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=60620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=60620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}