According to Lianhe Zaobao, UBS has announced the launch of its first tokenized money market fund globally, with Singapore as the starting point. The UBS Dollar Money Market Investment Fund Token (uMINT) is a money market investment fund based on Ethereum distributed ledger technology (DLT). UBS said the fund provides investors with a risk-controlled institutional cash management solution that supports 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 digital structured notes 200 million RMB (S $37.16 million) for 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.