– UBS, a Swiss asset management bank, has launched its first live pilot of a tokenized Variable Capital Company (VCC) fund on the Ethereum blockchain in Singapore.
– The VCC fund is part of a wider initiative to integrate real-world assets into the blockchain and is controlled by the Monetary Authority of Singapore.
– The launch of the live VCC marks a milestone in the exploration of fund tokenization and UBS’s commitment to partnering with traditional financial institutions and fintech providers.
– The pilot is facilitated through UBS Tokenize, the bank’s in-house tokenization service, and enables activities such as subscriptions and redemptions to be conducted using smart contracts on the Ethereum blockchain.
– UBS has been actively exploring decentralized finance (DeFi) use cases through tokenization services, including issuing the world’s first digital bond to be traded on public markets and tokenized fixed rate notes.
– The UBS tokenization service and VCC fund have the potential to reshape the digital asset landscape and the broader financial system in the future.
Swiss asset management bank UBS has launched a live pilot of a tokenized Variable Capital Company (VCC) fund on the Ethereum blockchain in Singapore. The pilot is part of UBS’s Project Guardian, an initiative to tokenize real-world assets, and is controlled by the Monetary Authority of Singapore. The VCC fund represents a legal entity for investment funds in Singapore. UBS plans to expand its offerings under Project Guardian and explore potential decentralized finance (DeFi) use cases. The bank has already launched a digital bond and issued tokenized fixed rate notes. The UBS Tokenize platform was also used to issue digital structured notes in Hong Kong. These developments could reshape the digital asset landscape and the broader financial system in the future.
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