UBS Asset Administration launches a tokenized USD Cash Market Funding Fund

Information from late final week that UBS Asset Administration has debuted a USD Cash Market Funding Fund Token

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• Represents newest transfer into blockchain-based monetary merchandise
• A part of broader UBS Tokenize initiative
• Follows profitable digital bond repo transaction in November 2023

Extra:

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• Fund constructed on Ethereum blockchain know-how
• Builds on UBS’s prior tokenization initiatives together with CNH200M digital structured notes
• UBS beforehand piloted tokenized VCC fund with Singapore’s MAS Undertaking Guardian

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Fund tokenization entails utilizing blockchain-based digital tokens to characterize fund possession, very like switch brokers at the moment report fund shares. Initially, firms used particular objective autos (SPVs) for tokenizing property like actual property. Equally, tokenized funds can use established buildings akin to unit trusts or fund firm autos.

A latest white paper from Invesco, Boston Consulting Group, and Aptos Labs initiatives that tokenized fund property beneath administration (AuM) may attain $600 billion by 2030.

This text was written by Aaron Cutchburt at www.ubaidahsan.com.



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