UBS Launches uMINT

Investment giant UBS, the world's largest private bank, announced the launch of uMINT, the "UBS USD Money Market Investment Fund Token," a tokenized investment fund on the Ethereum blockchain.

While UBS did not disclose the specific financial instruments within the fund, it did state that the fund provides investors access to "high-quality money market instruments based on a conservative, risk-managed framework" in a press release.

Thomas Kaegi, co-head of UBS's Asian arm, mentioned, "We have seen growing investor appetite for tokenized financial assets across asset classes."

Ethereum is the largest blockchain for real-world asset tokenization, with over $3 billion worth of tokenized assets currently on the network, according to RWA.xyz. A reported $3.9 billion worth of assets has been tokenized on-chain, not including private credit, with U.S. Treasury Debt forming the largest subset.

The value of tokenized assets on Ethereum has increased nearly 4% in the last 30 days. BlackRock's $BUIDL holds the highest market cap for products that hold U.S. Treasuries, valued at over $523 million, while Franklin Templeton's $FOBXX On-Chain U.S. Government Money Fund has a market cap of approximately $408 million.