UBS has announced the launch of its first tokenized currency market fund globally, starting from Singapore. The UBS US dollar currency market investment fund token (uMINT) is a currency market investment fund based on Ethereum distributed ledger technology (DLT). UBS said that the fund provides investors with a controllable risk institutional-level cash management solution, supporting high-quality currency market instruments. Previously, as an industry partner of the Monetary Authority of Singapore's "Project Guardian," UBS launched a live pilot of tokenized variable capital company (VCC) funds in October 2023. In June 2023, UBS issued RMB 200 million (SGD 37.16 million) digital structured notes for third parties and completed the world's first cross-border repurchase transaction fully executed and settled on a public blockchain in November of the same year.