UBS expands Project Guardian, a blockchain-based initiative, to enhance market liquidity and accessibility.
UBS Asset Management, a major global fund management company, has initiated its inaugural “live pilot” of a tokenized money market fund on the Ethereum blockchain. UBS is leveraging its proprietary service, UBS Tokenize, to explore on-chain processes like subscriptions and redemptions.
After the successful implementation of initial transactions, UBS Asset Management plans to expand the initiative’s scope by collaborating with a more diverse group of financial entities and exploring various investment strategies. This pilot project arrives at a juncture when the global financial industry is already buzzing with excitement over the potential offerings of blockchain and tokenization. While technically a pilot, UBS’ experiment transcends a mere trial; it serves as a blueprint for how traditional financial entities can integrate their established practices with the transformative power of blockchain technology.
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