UBS has completed an in-production, end-to-end tokenised fund workflow using the Chainlink Digital Transfer Agent (DTA) technical standard.
The transaction involved an on-chain subscription and redemption request for the UBS USD Money Market Investment Fund Token (uMINT), a money market fund built on Ethereum distributed ledger technology.
DigiFT acted as the on-chain fund distributor, using the DTA standard to process the subscription and redemption order.
The workflow supports all stages of the fund lifecycle, including order taking, execution, settlement, and data synchronisation between on-chain and off-chain systems.
Mike Dargan, Group Chief Operations and Technology Officer at UBS, said:
“Through our UBS Tokenize initiative, we are committed to supporting the development of digital strategies and products that meet our clients’ evolving needs.”
Sergey Nazarov, Co-Founder of Chainlink, said:
“This milestone with UBS and DigiFT shows how Chainlink can power secure, compliant, and scalable workflows for tokenised assets. It demonstrates how traditional finance can transition to on-chain environments with the reliability and efficiency required by institutions.”
Featured image credit: Edited by Fintech News Switzerland, based on image by Claudio Schwarz via Unsplash
