UBS and Chainlink Pioneer First Onchain Tokenized Fund Redemption in $100T Market

UBS Asset Management, in collaboration with Chainlink, has successfully executed the first-ever onchain tokenized fund redemption. This groundbreaking transaction occurred within the $100 trillion tokenized asset market, utilizing Chainlink's Cross-Chain Interoperability Protocol to enable seamless redemption of the UBS Tokenized Money Market Fund on the Ethereum blockchain. The integration demonstrates how traditional finance can leverage blockchain technology for enhanced transparency, security, and operational efficiency in fund management.