-
UBS asset management tests fund tokenization on Ethereum blockchain
The tokenization trend continues to take hold in legacy financial institutions as UBS Asset Management, one of the world's largest fund houses, has announced the launch of its first live pilot testing for a tokenized Variable Capital Company (VCC) fund. According to a press release from UBS, the pilot will utilize the firm’s in-house tokenization service, USB Tokenize, to test various fund activities on-chain, including subscriptions and redemptions. Thanks to the integration of smart contract technology, UBS is able to conduct these transactions directly on the Ethereum public blockchain, creating an immutable ... (full story)