KuCoin Announces Support for UBS uMINT
As the first global cryptocurrency exchange to support UBS uMINT, this collaboration enables institutional tokenholders to use their tokenized investment funds as off-exchange collateral through DigiFT.
The holders of UBS uMINT tokens have the ability to get access to the institutional-grade cash management solutions offered by UBS Asset Management.
This makes it possible for institutional tokenholders to engage in efficient trading on digital assets and provides access to a wider variety of alternative digital asset investments offered by KuCoin.
The major global cryptocurrency exchange, KuCoin, has just announced that it would be supporting UBS uMINT, a token that corresponds to the first tokenized money market investment fund developed by UBS Asset Management. This token will be issued via DigiFT, which is a premier licensed platform for tokenized real-world assets (RWAs). As the first global cryptocurrency exchange to support UBS uMINT, this collaboration enables institutional tokenholders to use their tokenized investment funds as off-exchange collateral through DigiFT. This makes it possible for institutional tokenholders to engage in efficient trading on digital assets and provides access to a wider variety of alternative digital asset investments offered by KuCoin.
The holders of UBS uMINT tokens have the ability to get access to the institutional-grade cash management solutions offered by UBS Asset Management. These solutions are supported by high-quality money market instruments and are based on a risk-managed framework. The UBS uMINT is based on the Ethereum distributed ledger technology and is issued using the UBS Tokenize service, which is UBS’s in-house tokenization service.
By mirroring RWA holdings with stablecoin equivalents without transferring ownership, KuCoin is advancing the use of tokenized RWAs in a real-world applicable trading environment. This allows for sophisticated trading on digital assets while maintaining control and yields through a third-party regulated custodian. KuCoin is driving this initiative, which is an advancement in the cryptocurrency sector. It provides better liquidity, risk reduction, and operational efficiency, all while putting an emphasis on regulatory compliance and security, and it responds to the rising demand for high-grade on-chain income assets.
BC Wong, CEO of KuCoin stated:
As an authorized distribution partner, DigiFT gives investors access to tokenized RWAs like the UBS tokenized money market investment fund. DigiFT supports both subscription and redemption via stablecoins and fiat currency in a non-custodial manner, with clients using their preferred custody wallet solution. This allows investors to access tokenized RWAs.
Henry Zhang, CEO of DigiFT, remarked:
As KuCoin looks to the future, it sees significant increases in tokenized asset integrations, which will drive a wider use of RWAs and build a more linked financial sector. KuCoin is able to enable a wide variety of RWAs issued by reputed asset managers as recognized collateral by using its powerful technical infrastructure. This allows KuCoin to provide institutional customers with flexible trading options that improve capital efficiency and enhance returns. The implementation of this effort establishes a new benchmark for innovation, putting KuCoin in the forefront of user-centric solutions that are compatible with the increasingly complex digital economy.
KuCoin is a prominent global cryptocurrency platform that was established in 2017 and continues to serve over 41 million users across more than 200 nations and regions internationally. In addition to providing access to more than one thousand digital assets and solutions, KuCoin was developed using cutting-edge blockchain technology. These include Web3 wallet, spot and futures trading, institutional services, and payment processing. In addition to being a “Top 50 Global Unicorn” by Hurun and a “Best Crypto Apps & Exchanges” by Forbes, KuCoin is also certified to the ISO 27001:2022 standard and is dedicated to security, compliance, and innovation.
DigiFT is a next-generation exchange for tokenized real-world assets (RWAs). It has been given approval in principle by the Hong Kong Securities and Futures Commission (SFC) and receives a license from the Monetary Authority of Singapore (MAS). The platform is designed specifically for institutional RWAs, and it provides end-to-end digital asset services, including as tokenization, issuance, distribution, trading, and rapid liquidity supply. DigiFT, which is trusted by financial institutions all over the world, is a partner for on-chain tokenization and distribution for prominent asset managers such as UBS Asset Management and Invesco.
