UBS has launched a live pilot of a tokenized version of its Variable Capital Company (VCC) fund, as part of Project Guardian led by Singapore’s central bank.
The pilot was conducted using UBS Tokenize and the Ethereum network, allowing for activities such as redemptions and fund subscriptions.
This move marks a milestone in understanding fund tokenization and aligns with UBS’s global distributed ledger technology strategy.
Tokenization of real-world assets is expected to gain traction due to its advantages in transparency and security.
UBS plans to execute further live pilot use cases under Project Guardian after successful transactions.