{"id":167022,"date":"2023-10-03T04:23:54","date_gmt":"2023-10-02T22:53:54","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=167022"},"modified":"2023-10-03T04:23:54","modified_gmt":"2023-10-02T22:53:54","slug":"ubs-launches-pilot-for-an-ethereum-based-money-market-fund-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ubs-launches-pilot-for-an-ethereum-based-money-market-fund-crypto-news\/","title":{"rendered":"UBS Launches Pilot for an Ethereum-Based Money Market Fund &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<p>The pilot project is part of a broader VCC umbrella, aimed at bringing various real-world assets on-chain. <\/p>\n<div>\n<p>UBS Asset Management, the Swiss asset manager with $3.1T of AUM, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.ubs.com\/global\/en\/media\/display-page-ndp\/en-20230927-first-blockchain-native.html?caasID=CAAS-ActivityStream\">announced<\/a> on Monday, the launch of a live pilot of a tokenized Variable Capital Company (VCC) fund in Singapore.<\/p>\n<ul>\n<li>The pilot project is part of a broader VCC umbrella, with the aim of tokenizing various real-world assets.<\/li>\n<li>This initiative stems from Project Guardian, an industry collaboration led by the Monetary Authority of Singapore (MAS).<\/li>\n<li>Thomas Kaegi, Head of UBS Asset Management Singapore &amp; Southeast Asia, states this is a crucial step in understanding fund tokenization, and highlights the firm&#8217;s existing expertise in tokenizing bonds and structured products.<\/li>\n<li>The pilot relies on UBS Tokenize, UBS&#8217;s in-house tokenization platform, to facilitate a controlled launch of a tokenized money market fund.<\/li>\n<li>Represented as a smart contract on the Ethereum public blockchain, the pilot allows UBS Asset Management to track various activities, including fund subscriptions and redemptions.<\/li>\n<li>UBS Asset Management&#8217;s tokenization pilot is central to their global distributed ledger technology strategy, which emphasizes the use of public and private blockchain networks to enhance fund issuance and distribution.<\/li>\n<li>The pilot builds upon UBS&#8217;s ongoing expansion of its tokenization services via UBS Tokenize. In 2022 and 2023, UBS issued the first publicly traded digital bond and other notable tokenized products.<\/li>\n<li>Post success of this pilot, UBS Asset Management aims to initiate further live pilot use cases within Project Guardian, in collaboration with a wider set of partners, to test various investment strategies.<\/li>\n<\/ul>\n<p><em>This post was written with help from AI.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The pilot project is part of a broader VCC umbrella, aimed at bringing various real-world assets on-chain. UBS Asset Management, the Swiss asset manager with $3.1T of AUM, announced on Monday, the launch of a live pilot of a tokenized Variable Capital Company (VCC) fund in Singapore. The pilot project is part of a broader [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-167022","post","type-post","status-publish","format-standard","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/167022","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=167022"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/167022\/revisions"}],"predecessor-version":[{"id":167024,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/167022\/revisions\/167024"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=167022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=167022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=167022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}