UBS launches tokenized fund, puts ETH 'into the heart' of TradFi

The move by UBS to launch a tokenized fund on Ethereum is like “putting ETH right into the heart of traditional finance,” says one crypto commentator.

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The Union Bank of Switzerland (UBS) has rolled out a tokenized fund on the Ethereum blockchain network after highlighting the increasing interest among investors for tokenized financial assets. 

In a Nov. 1 statement, the bank launched the money market fund built on the Ethereum network as the “UBS USD Money Market Investment Fund Token,” also known as the “uMINT.”

UBS APAC co-head Thomas Kaegi explained that the firm has “seen a growing investor appetite for tokenized financial assets across asset classes.” 

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