PANews reported on November 1 that UBS Asset Management announced the global launch of its first tokenized money market fund uMINT based on Ethereum distributed ledger technology (DLT), starting in Singapore. The fund aims to provide investors with institutional-level cash management solutions with controlled risks and support high-quality money market instruments.

Previously, UBS participated in the pilot of tokenized variable capital company (VCC) funds as an industry partner of the Monetary Authority of Singapore's "Project Guardian" and completed the world's first cross-border repurchase transaction on a public blockchain in 2023.