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The cryptocurrency market is currently experiencing a lackluster phase, with BTC lingering around $69,000. However, recent news brings a positive long-term outlook. A few minutes ago, a significant announcement revealed that UBS, managing approximately $3 trillion in assets, will issue tokenized bonds.
Ethereum News
UBS has chosen the Ethereum 
$2,579 network for its tokenized bond issuance, opting for partners like BlackRock and Franklin. The Swiss bank UBS will launch a tokenized investment fund on the Ethereum network. Given BlackRock’s recent developments in this domain, UBS’s move is not surprising.
The RWA ecosystem, expected to transform into a trillion-dollar market, is gaining traction on the Ethereum network. This development indicates a promising long-term outlook for ETH. Although BlackRock and Franklin’s funds are still in their infancy, they have already reached $530 million and $410 million, respectively. UBS will utilize the abbreviation uMINT for its USD Money Market Investment Fund Token.
Thomas Kaegi, co-head of UBS Asset Management in Asia, stated, “We have observed an increasing investor appetite for tokenized financial assets across asset classes.”
