Swiss bank UBS recently announced the launch of a live pilot of a tokenized version of its Variable Capital Company (VCC) fund as part of the Project Guardian initiative led by the Central Bank of Singapore. 😃This project is considered a milestone in understanding fund tokenization. UBS Asset Management has launched a controlled pilot of tokenized money market funds through its in-house tokenization service UBS Tokenize, using smart contracts on Ethereum for various activities, including redemptions and fund subscriptions.
The pilot is also part of UBS’s global distributed ledger technology (DLT) strategy, which focuses on using private and public blockchains to enhance the distribution and issuance of funds. 💪The tokenization of real world assets (RWA) is considered to have many advantages, such as transparency and security, and may bring significant opportunities to many industries. Earlier this year, token gains from the RWA tokenization platform project surged 32% year-to-date (YTD). 🚀
The pilot is also part of UBS’s global distributed ledger technology (DLT) strategy, which focuses on using private and public blockchains to enhance the distribution and issuance of funds. 💪The tokenization of real world assets (RWA) is considered to have many advantages, such as transparency and security, and may bring significant opportunities to many industries. Earlier this year, token gains from the RWA tokenization platform project surged 32% year-to-date (YTD). 🚀