UBS Finally Launches uMINT On Ethereum After Long Wait

UBS, the largest private bank in the world, has officially announced the introduction of uMINT, which stands for UBS USD Money Market Investment Fund Token, a tokenized investment fund utilizing the Ethereum (ETH) blockchain.

High Quality Offerings

While UBS did not specify the financial instruments included in the fund, it mentioned that it offers investors access to high-quality money market instruments within a conservative, risk-managed framework, as stated in their press release.

Thomas Kaegi, co-head of the UBS Asian division, noted that the bank has observed an increasing interest among investors for tokenized financial assets across various asset classes. Currently, Ethereum is recognized as the leading blockchain for real-world asset tokenization, according to RWA.xyz, which reports over $3 billion in tokenized assets on the platform.

A Steady Increase

Approximately $3.9 billion in assets have been tokenized on-chain, excluding private credit, with U.S. Treasury Debt comprising the largest portion. Moreover, the value of tokenized assets on Ethereum has risen nearly 4% over the past month.

$BUIDL (by BlackRock) holds the highest market cap for U.S. Treasury products at over $523 million, while $FOBXX (by Franklin Templeton) has a market cap of around $408 million. Earlier on in 2024, Ethereum demonstrated notable progress in the percentage of investors maintaining their assets for over a year, marking a significant milestone for the blockchain.