UBS has completed its first tokenized fund redemption with Chainlink.

UBS and Blockchain Innovation

UBS has completed the first on-chain redemption transaction of a tokenized fund using Chainlink's Digital Transfer Agent (DTA) technology. This significant development represents a milestone in blockchain infrastructure for the $100 trillion fund industry.

The transaction took place with the UBS USD Money Market Fund Token (uMINT) on Ethereum, and DigiFT acted as the on-chain distributor in this process.

This success aims to enhance operational efficiencies in the fund industry and promote new possibilities for product components. UBS's Tokenize platform works to automate core functions.