The latest technology news in the wealth management sector from around the world.

UBS
Yesterday, UBS said that it had successfully completed the world’s first “in-production, end-to-end tokenized fund workflow” that uses the Chainlink Digital Transfer Agent (DTA) technical standard.

The move is an example of banks using blockchain, aka digital ledger technology, systems to carry out financial transactions – showing the continous evolution of the financial sector’s “plumbing.”

The subscription and redemption request was handled for the UBS USD Money Market Investment Fund Token, or “uMINT.” The investment unit was built on Ethereum-distributed ledger technology. UBS worked with DigiFT on the project. The latter firm is a regulated exchange platform for institutional-grade real-world assets; UBS also worked with Chainlink, which operates in the digital ledger technology space.

The new workflow can cover every stage of the fund lifecycle, including order taking, execution, settlement, and data synchronisation across all on-chain and off-chain systems, UBS said in a statement.

“This transaction represents a key milestone in how smart contract-based technologies and technical standards enhance fund operations and the investor experience,” Mike Dargan, group chief operations 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."

Sergey Nazarov, co-founder of Chainlink, said: “I’m very excited to announce this industry milestone with UBS and DigiFT, where Chainlink is powering an in-production tokenized fund transaction across chains. This enables secure, compliant, and scalable end-to-end workflows for tokenized assets, setting a new benchmark for institutional finance on-chain.”