According to the Daily Planet, UBS Asset Management (UBS) has conducted a pilot for tokenization of money market funds on the Ethereum chain as one of the pilots of the "Guardian Program" of the Monetary Authority of Singapore (MAS). The key advantage of fund tokenization is to increase liquidity and expand the investor base. In the first pilot transaction, UBS Asset Management executed the subscription and redemption of fund tokenization in the form of smart contracts, and plans to explore other investment strategies with more partners. Thomas Kaegi, head of asset management for Singapore and Southeast Asia at UBS, said that this is an important milestone in understanding fund tokenization, and will work with traditional financial institutions and fintech providers to improve market liquidity and market access for customers.