Investment giant UBS, the largest private bank in the world, today announced the launch of uMINT, or the "UBS USD Money Market Investment Fund Token," a tokenized investment fund on the Ethereum blockchain.
While UBS didn't disclose exactly which financial instruments made up the fund, it said the fund provides investors access to "high quality money market instruments based on a conservative, risk-managed framework" in a press release.
"We have seen growing investor appetite for tokenized financial assets across asset classes," Thomas Kaegi, co-head of UBS's Asian arm, said.
Ethereum is currently the largest blockchain for real-world asset tokenization, according to dashboard RWA.xyz, which tallies over $3 billion worth of tokenized assets on the network. About $3.9 billion worth of assets are currently tokenized onchain not counting private credit, according to the dashboard, with U.S. Treasury Debt forming the largest subset.
The value of tokenized assets on Ethereum has grown nearly 4% in the last 30 days, according to the dashboard. BlackRock's $BUIDL has the highest market cap for products that hold U.S. Treasuries with over $523 million worth of value, while Franklin Templeton's $FOBXX On-Chain U.S. Government Money Fund has a market cap of about $408 million.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
