“The transaction involved the tokenized UBS USD Money Market Investment Fund Token (uMINT) on Ethereum, with DigiFT as the onchain distributor.”, — write: www.coindesk.com
The transaction involved the tokenized money market fund UBS USD Money Market Investment Fund Token (uMINT) built on Ethereum.
DigiFT served as the onchain distributor, settling the redemption using Chainlink’s DTA standard. UBS’ internal systems initiated the process, which Chainlink’s infrastructure then executed, according to a press release shared with CoinDesk.
“This transaction represents a key milestone in how smart contract-based technologies and technical standards enhance fund operations and the investor experience,” Mike Dargan, UBS’ group chief operating and technology officer, said.
“As the industry continues to embrace tokenized finance, this achievement illustrates how these innovations drive greater operational efficiencies and new possibilities for product composability.”
The transaction is part of a broader initiative from UBS Tokenize, the bank’s in-house platform for blockchain-based financial products.
By automating key functions like order-taking, execution and settlement across digital and traditional systems, the technology aims to cut operational complexity and processing time for the $100 trillion global fund industry.
It follows a recent pilot where Chainlink connected existing bank systems to blockchains via Swift, the financial messaging network.
That setup used Chainlink’s Cross-Chain Interoperability Protocol and Runtime Environment to process fund transactions using ISO 20022 messages, letting banks access blockchain rails without overhauling legacy infrastructure.
Stablecoin payment volumes have grown to $19.4B year-to-date in 2025. OwlTing aims to capture this market by developing payment infrastructure that processes transactions in seconds for fractions of a cent.
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With the acquisition, Ripple aims to provide quickly-deployable wallets to boost fintech and corporate crypto payments, president Monica Long said in an interview.
- Ripple is buying crypto wallet and custody firm Palisade to boost real-time custody and payments for fintechs and corporates.
- The acquisition adds fast, scalable wallet tech to Ripple’s institutional custody offering.
- This is Ripple’s fourth acquisition this year after buying prime broker Hidden Road, stablecoin infrastructure firm Rail and corporate treasury management platform GTreasury.
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