UBS Launches Tokenized Money Market Fund

Hi NoRamp Community,

Argentinian presidential race includes crypto considerations. Crypto investment firm launches with $1B in assets. UBS launches tokenized money market fund.

Argentinian Presidential Candidates Pit BTC, CBDC & the Dollar:

• Sergio Massa, Argentinian presidential candidate and current Minister of Economy, advocates for the creation of a Central Bank Digital Currency (CBDC) in response to the nation's hyperinflation issues.

• Javier Milei, another key presidential contender with a pro-Bitcoin stance, suggests eliminating the peso in favor of dollarization by 2025-2026.

• While Massa opposes the dollarization model, comparing it to practices in Zimbabwe, El Salvador, and Ecuador, some political opponents are encouraging an El Salvador-style Bitcoin adoption.

Crypto Investment Firm Deus X Capital Launches with $1B in Assets:

• Deus X Capital, backed by a family office, has launched with an initial $1 billion in assets targeting opportunities in digital assets, blockchain, fintech, and institutional capital markets sectors. Tim Grant is the CEO.

• Tim Grant (pictured above), formerly of Galaxy Digital and SIX Digital Exchange, highlighted the current financial system's inefficiencies and expressed commitment to innovative fintech solutions.

• The company's portfolio includes investments in publicly traded companies like Galaxy and Hilbert Group, as well as stakes in various hedge funds.

UBS Launches Tokenized Money Market Fund Pilot:

• UBS Asset Management, one of the world's largest asset management firms with over $3 trillion in assets, has initiated a "live pilot" of a tokenized money market fund on the Ethereum blockchain.

• The pilot allows UBS to monitor fund activities, including subscriptions and redemptions, and will utilize its own tokenization service, "UBS tokenized," for the launch.

• UBS has been actively involved in blockchain exploration, previously introducing the first publicly traded digital bond in 2022 and continuously enhancing its tokenized offerings.

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