UBS Asset Management is launching a “live pilot” of a tokenized money market fund on the Ethereum blockchain. UBS aims to carry out fund-related transactions on the blockchain using a special service called Tokenize.🚀

This pilot program expands UBS's efforts in tokenization and is part of Project Guardian, which is overseen by the Monetary Authority of Singapore. After successful transactions, UBS plans to expand the project by collaborating with more financial institutions.🌐

UBS's Ethereum-based pilot is seen as a significant step towards blockchain-based financial instruments. This experience provides UBS with valuable knowledge and insight into the industry on how blockchain can increase market liquidity and customer accessibility.💡