Singapore, 2 Nov 2024 – UBS Asset Management, launches its first tokenized investment fund “uMINT”, made available through authorized distribution partner,DigiFT.
With DigiFT, investors can subscribe to uMINT using their preferred custody wallet solution, gaining access to real-time redemption capabilities via DigiFT’s platform. uMINT, a Money Market investment underpinned by high quality money market instruments based on a conservative, risk-managed framework, is built on Ethereum distributed ledger technology and issued under UBS Tokenize, UBS’s in-house tokenization service, a full service offering for digital asset services that seeks to open the door to the world of decentralized finance to a broader range of market participants.
“We’re honoured to be an authorized distribution partner for UBS Asset Management in launching their first tokenized money market fund. This is a significant milestone in the world of Web3, and a testament of our ability to transform capital markets. Not only does this partnership bridge traditional finance with digital and decentralized technologies, it also demonstrates our ability to deliver next-generation investment solutions on an open network – for a new generation of global investors,” said Henry Zhang, Founder & Chief Executive Officer of DigiFT.
Above (L to R): Kevin Loo, Hong Kong CEO DigiFT, Henry Zhang, Founder & CEO DigiFT, Laurens Schepens, CoE Lead Digital Assets APAC UBS and UBS Tokenize, Zieshan Afzal, Executive Director APAC Liquidity Sales, UBS Asset Management announcing the launch of uMINT at Digital Assets Week Singapore, held a day before the Singapore Fintech Festival.
As part of the partnership, DigiFT will provide infrastructure for managing and monitoring on-chain distribution activities and transactions for the new tokenized money market fund. Enabled by blockchain technology, DigiFT’s best-in-class, open infrastructure ensures all transactions are stored and recorded on an immutable ledger, providing real-time operational and audit visibility. Beyond streamlining administrative processes, DigiFT is able to leverage smart contracts and facilitate automated compliance and operational efficiencies, further allowing investors to invest and explore new financial Web3 use cases.
Above: Laurens Schepens of UBS sharing the behind-the-scenes backstory of uMINT. A 6-year journey in the making, finally realized on 1 Nov 2024!
DigiFT is the first exchange deploying smart contract methods and processes, with an automatic market-making mechanism, to be recognized as a Recognised Market Operator (RMO) and awarded the Capital Markets Services (CMS) license by the Monetary Authority of Singapore.
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