UBS issues tokenized USD money market!

On 01st November, UBS Asset Management announced the launch of UBS USD Money Market Investment Fund Token (uMINT) which is reportedly built on Ethereum distributed ledger technology. Notably, this fund will only be available through authorized distribution partners. Previously UBS had actively engaged with the public Ethereum blockchain with the assistance of the tokens that require permissions. Moreover, UBS uses both as part of UBS Tokenize, although the fund likely uses public blockchain. Currently, the main target of UBS is to target the crypto investor class. Reportedly, these funds provide a safe place to stack cash and earn yield.