The world’s largest private bank just rolled out an exciting new investment option called uMINT, or the “UBS USD Money Market Investment Fund Token.” This tokenized fund operates on the Ethereum blockchain.
What’s inside the fund?
While UBS hasn’t revealed the specific financial instruments included in uMINT, they assure investors that it offers access to high quality money market instruments within a conservative and risk-managed framework. Sounds fancy, right?
Thomas Kaegi, co-head of UBS’s Asian division noted that there’s been a growing interest from investors in tokenized financial assets across various asset classes.
It seems like everyone wants a piece of the cookies now.
Ethereum: the go-to for tokenization
Ethereum is currently leading the charge when it comes to tokenizing real-world assets.
RWA.xyz, a dashboard that tracks these developments claims that there are already over $3 billion worth of tokenized assets on the Ethereum network alone.
When you factor in all on-chain assets, total jumps to about $3.9 billion, with U.S. Treasury Debt making up the largest slice of that pie.
In just the last month, the value of tokenized assets on Ethereum has increased by nearly 4%. That’s some impressive growth, we have to admit.
The competition
When it comes to market cap, BlackRock’s $BUIDL is at the top for products holding U.S. Treasuries, over $523 million in value.
Not far behind is Franklin Templeton’s $FOBXX On-Chain U.S. Government Money Fund, which has a market cap of around $408 million.
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