The website Cointelegraph posted a brief entitled, "Swiss bank UBS launches tokenized money market fund on Ethereum." They explain, "Leading Swiss bank UBS has launched a live pilot of a tokenized version of its variable capital company (​VCC) fund as part of Project Guardian, an initiative led by Singapore'​s central bank. In a press release, UBS Asset Management announced that the fund is part of a broader VCC umbrella designed to bring different types of real-​world assets (​RWA) to the blockchain. According to Thomas Kaegi, the head of UBS Asset Management for Singapore and Southeast Asia, the project is a milestone in understanding funds tokenization." They quote Kaegi, "Through this exploratory initiative, we will work with traditional financial institutions and fintech providers to help understand how to improve market liquidity and market access for clients." The article adds, "UBS Asset Management launched the controlled pilot of the tokenized money market fund through the company'​s in-​house tokenization service called UBS Tokenize. Using a smart contract on Ethereum, the firm carried out various activities, including redemptions and fund subscriptions." UBS'​s release, "UBS Asset Management launches first blockchain-​native tokenized VCC fund pilot in Singapore," tells us, "UBS Asset Management has launched its first live pilot of a tokenized Variable Capital Company (​VCC) fund. The fund is part of a wider VCC umbrella designed to bring various '​real world assets' on-​chain as part of Project Guardian, a collaborative industry initiative led by the Monetary Authority of Singapore (​MAS)."

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