The Swiss bank announced that it successfully processed an end-to-end subscription and redemption request for the UBS USD Money Market Investment Fund Token (uMINT), which operates on Ethereum’s distributed ledger technology.
The transaction, executed with on-chain fund distributor DigiFT, is said to have showcased how fund operations, from order taking to settlement, can be automated for greater efficiency and transparency.
Mike Dargan, UBS’s Group Chief Operations and Technology Officer, stated that the achievement “represents a key milestone in how smart contract-based technologies and technical standards enhance fund operations and the investor experience.”
He added that UBS remains committed to “fostering innovation” through its UBS Tokenize initiative.
Sergey Nazarov, Co-Founder of Chainlink, described the transaction as a “new benchmark for institutional finance on-chain,” noting that it demonstrates how traditional finance can transition securely into decentralised environments.
Henry Zhang, Founder and CEO of DigiFT, said the collaboration illustrates “how fund operations can be executed and reconciled on-chain with real-time visibility,” highlighting the benefits of seamless integration between blockchain and institutional custody systems.
