UBS (NYSE:UBS) announces the “first” completion of an in-production, end-to-end tokenized fund workflow leveraging the Chainlink Digital Transfer Agent (DTA) technical standard. The completion of the first on-chain subscription and redemption request of the UBS USD Money Market Investment Fund Token (uMINT), a Money Market investment built on Ethereum distributed ledger tech, indicates how fund operations can be “automated on-chain for increased efficiency and utility gains.”
In this live transaction, DigiFT functioned as the on-chain fund distributor and leveraged the DTA standard to “request and process a subscription and redemption order.”
This end-to-end tokenized fund workflow can “cover every stage of the fund lifecycle, including order taking, execution, settlement, data synchronization across all on-chain and off-chain systems.”
Mike Dargan, Group Chief Operations and Technology Officer, said that this transaction represents a key milestone in “how smart contract-based technologies and technical standards enhance fund operations and the investor experience.”
Dargan added that as the industry continues to embrace tokenized finance, this achievement illustrates “how these innovations drive greater operational efficiencies and new possibilities for product composability.”
They further stated that via their UBS Tokenize initiative, they “are committed to fostering innovation and applying their expertise to support the development of digital strategies and products that meet clients’ needs.”
Sergey Nazarov, Co-Founder of Chainlink, has said that he is looking forward to confirming this industry milestone with UBS and DigiFT, where Chainlink is powering “an in-production tokenized fund transaction across chains.”
Nazarov added that this enables secure, compliant, and scalable end-to-end workflows “for tokenized assets, setting a benchmark for institutional finance on-chain.”
They also noted that as one of the most significant FIs worldwide, UBS is now focused on “leveraging Chainlink to expand their digital asset capabilities while maintaining the highest levels of regulatory and operational standards.”
Nazarov also stated that this major milestone demonstrates how traditional finance can transition “into on-chain environments with the reliability and efficiency the traditional industry requires.”
Henry Zhang, Founder and Group CEO, DigiFT said that as the authorized on-chain fund distributor for uMINT, they “demonstrated in collaboration with UBS how fund operations can be executed and reconciled on-chain with real-time visibility,”
Zhang added that leveraging the Chainlink DTA technical standard enables more “seamless subscription and redemption workflows directly integrated with institutional custody.”
