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UBS Executes First On-Chain Redemption of Tokenized Fund via Chainlink’s Digital Transfer Agent

UBS Executes First On-Chain Redemption of Tokenized Fund via Chainlink’s Digital Transfer Agent

UBS’s Tokenize platform achieved a blockchain-based fund subscription and redemption using Chainlink’s DTA standard, with plans to add stablecoin settlements and multi-chain asset management.

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Summary

At Chainlink's SmartCon, UBS announced that its Tokenize platform completed the first blockchain-based fund subscription and redemption using Chainlink’s Digital Transfer Agent standard. The uMINT money market fund in Singapore enabled compliant cross-network transfers. UBS plans to expand Tokenize to support stablecoin settlements and multi-chain asset management, signalling further integration of blockchain into regulated financial services.

Terms & Concepts
  • Digital Transfer Agent (DTA): A blockchain-based system by Chainlink that automates and manages fund transactions, replacing traditional transfer agent functions.
  • Tokenized Fund: An investment fund represented digitally on a blockchain, allowing shares to be issued, traded, and redeemed as tokens.
  • Stablecoin: A type of cryptocurrency pegged to the value of a stable asset, such as a fiat currency, to reduce volatility.