Key Developments in Tokenized Finance
- •UBS has successfully completed the world’s first live, in-production tokenized fund transaction.
- •The transaction involved uMINT, a tokenized money market fund operating on the Ethereum blockchain.
UBS, the Swiss banking giant, has made history by successfully executing the world’s first live, in-production tokenized fund transaction. This transaction was carried out end-to-end, involving subscription and redemption requests for a tokenized money market fund, marking a significant step in the institutional adoption of blockchain-based financial products.
Details of the Groundbreaking Transaction
The transaction involved the UBS USD Money Market Investment Fund Token, also known as uMINT, which operates on the Ethereum blockchain. DigiFT, an on-chain fund distributor, played a crucial role in the transaction, utilizing the Chainlink Digital Transfer Agent technical standard to handle the fund operations. Both subscription and redemption requests were processed through this automated system.
The Chainlink DTA standard integrates several technologies, including Chainlink Runtime Environment, Cross-Chain Interoperability Protocol, Automated Compliance Engine, and NAVLink. These components allow Chainlink’s oracle network to automate fund lifecycle operations such as order processing, execution, settlement, and data synchronization between on-chain and off-chain systems. The standard supports three settlement models: Offchain, Local Onchain, and Cross-chain Onchain. The Chainlink CCIP integration has been deployed across multiple blockchain applications in 2025.
UBS's Continued Commitment to Tokenization
UBS developed this capability through its UBS Tokenize service, which also focuses on tokenizing bonds and structured products. The bank currently manages $6.9 trillion in invested assets as of the third quarter of 2025 and operates as the leading universal bank in Switzerland and a principal global wealth manager.
This transaction is a continuation of UBS’s work with Chainlink under the Monetary Authority of Singapore’s Project Guardian initiative. Earlier in 2025, UBS tested on zkSync for its Key4 Gold service proof-of-concept. This transaction represents UBS’s first live deployment of tokenized fund operations on a public blockchain. DigiFT processed the subscription and redemption orders using the DTA standard’s automated compliance and settlement features. The system handled order taking, execution, and final settlement without manual intervention.
Despite the recent volatility in Chainlink (LINK) price, the growing institutional adoption of its infrastructure is evident.