UBS Chooses Ethereum For Live Pilot Of Tokenized Money Market Fund
Portfolio Pulse from Khyathi Dalal
UBS Asset Management is launching its first live pilot program of a tokenized money market fund on Ethereum. The pilot is part of a broader industry initiative led by the Monetary Authority of Singapore, Project Guardian, which aims to bring different real-world assets on-chain and utilize blockchain technology to enhance market liquidity. The pilot will be used by UBS Asset Management for activities like fund subscriptions and redemptions. The project is part of UBS Asset Management’s global distributed ledger technology strategy.
October 02, 2023 | 2:36 pm
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UBS Asset Management's launch of a tokenized money market fund on Ethereum could potentially enhance the company's market liquidity and distribution capabilities. This move aligns with UBS's global distributed ledger technology strategy.
The launch of the tokenized money market fund on Ethereum is a significant step for UBS Asset Management. It not only aligns with their global distributed ledger technology strategy but also potentially enhances their market liquidity and distribution capabilities. This could attract more investors and increase the company's market share, potentially leading to a positive impact on the company's stock price.
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