UBS Launches Pilot of Tokenized Money Market Fund on Ethereum

UBS Asset Management launched a live pilot of a tokenized money market fund on Ethereum.

The pilot is part of Project Guardian, an initiative by Singapore's financial regulator to tokenize real-world assets.

UBS used its in-house tokenization platform UBS Tokenize to create the tokenized fund.

The goal is to gain insights into enhancing market liquidity and access for clients.

UBS joins other major banks like JP Morgan and DBS in exploring tokenization and blockchain technology.