According to Lianhe Zaobao, UBS announced that it will launch its first tokenized money market fund globally, starting from Singapore. The UBS USD Money Market Investment Fund Token (uMINT) is a money market investment fund based on Ethereum distributed ledger technology (DLT). UBS said that the fund provides investors with an institutional-grade cash management solution with controlled risks, supporting high-quality money market instruments. Previously, UBS, as an industry partner of the Monetary Authority of Singapore's "Project Guardian", launched a live pilot of the tokenized variable capital company (VCC) fund in October 2023. UBS issued RMB 200 million (S$37.16 million) of digital structured notes to third parties in June 2023, and completed the world's first cross-border repo transaction fully executed and settled on a public blockchain in November of the same year.