UBS has executed the world's first on-chain fund redemption in a live production environment, a landmark achievement for blockchain adoption in traditional finance. The transaction, completed on November 4, 2025, utilized Chainlink's Digital Transfer Agent (DTA) standard to seamlessly connect traditional Swift financial messaging with blockchain settlement on the Ethereum network.
It involved the uMINT token, a digital representation of the UBS USD Money Market Investment Fund, and was facilitated by DigiFT as the on-chain fund distributor. This innovation enabled automated subscription and redemption processes through smart contracts, reducing settlement times and increasing transparency without replacing existing financial systems.
The project is part of Project Guardian, an initiative led by the Monetary Authority of Singapore (MAS), which UBS has been involved in since 2023. Analysts highlight this as a critical step toward digitizing the $100 trillion global fund management industry, where smart contracts could revolutionize how investors manage fund shares.
UBS emphasized that the test occurred in a live production setting, not a sandbox, proving real-world viability for large-scale tokenization of assets like money market funds, ETFs, and sovereign bonds.
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