UBS Launches Pilot of Tokenized Money Market Fund on Ethereum with Singapore Central Bank
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UBS launched a live pilot of a tokenized money market fund on Ethereum as part of Project Guardian with Singapore's central bank.
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The tokenized fund is part of a broader VCC umbrella by UBS to bring real-world assets to blockchain.
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The pilot explores funds tokenization to improve market liquidity and access for clients, per UBS's Thomas Kaegi.
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UBS used its in-house UBS Tokenize service and an Ethereum smart contract for activities like redemptions.
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The pilot aligns with UBS's strategy of using public/private blockchains to enhance fund distribution and issuance.