Monday , 25 November 2024
Home Cryptocurrency UBS Asset Management launches a tokenized USD Money Market Investment Fund
CryptocurrencyForex

UBS Asset Management launches a tokenized USD Money Market Investment Fund

News from late last week that UBS Asset Management has debuted a USD Money Market Investment Fund Token

    Represents latest move into blockchain-based financial products
  • Part of broader UBS Tokenize initiative
  • Follows successful digital bond repo transaction in November 2023

More:

    Fund built on Ethereum blockchain technology
  • Builds on UBS’s prior tokenization projects including CNH200M digital structured notes
  • UBS previously piloted tokenized VCC fund with Singapore’s MAS Project Guardian

Fund tokenization involves using blockchain-based digital tokens to represent fund ownership, much like transfer agents currently record fund shares. Initially, companies used special purpose vehicles (SPVs) for tokenizing assets like real estate. Similarly, tokenized funds can use established structures such as unit trusts or fund company vehicles.

A recent white paper from Invesco, Boston Consulting Group, and Aptos Labs projects that tokenized fund assets under management (AuM) could reach $600 billion by 2030.

This article was written by Eamonn Sheridan at www.forexlive.com.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

PBOC net drain 550bn via MLF. Rate unchanged at 2%

People's Bank of China issue a one year MLF at 2%900bn yuan...

Still waiting on any People’s Bank of China Medium-term Lending Facility (MLF) announcemnt

It's the 25th of the month, MLF day. We'd usually have the...

PBoC may cut RRR, buy government bonds in December.

China - Citic Securities say PBoC may cut RRR, buy government bonds...

Axios: Israeli, US officials state Israel and Lebanon on the cusp of a ceasefire agreement

The Axios report cites Israeli and US officialsIsrael and Lebanon are on...