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KuCoin is now the first cryptocurrency exchange in the world to support UBS uMINT, a token that represents the first tokenized money market investment fund introduced by UBS Asset Management and disbursed through DigiFT, a platform licensed to handle tokenized real-world assets (RWAs).
Partnership details
By means of this partnership, institutional DigiFT holders of UBS uMINT tokens can now use their tokenized investment funds as off-exchange collateral for KuCoin trading. With this configuration, KuCoin can mirror RWA holdings with stablecoin equivalents, without changing asset ownership, facilitating effective trading of digital assets while maintaining the security and yield of the underlying funds via a third-party custodian that is subject to regulation.
Investors can access institutional-grade cash management solutions supported by premium money market instruments through UBS uMINT, which is built on Ethereum and issued under UBS Tokenize.
Digital and traditional finance
The initiative is a significant step forward in combining digital assets and traditional finance, according to BC Wong, CEO of KuCoin, who also highlighted KuCoin’s emphasis on user security innovation and compliance. As an approved distribution partner, DigiFT manages UBS uMINT subscriptions and redemptions in fiat and stablecoins.
It uses a noncustodial model that enables customers to use the wallets of their choice. According to DigiFT CEO Henry Zhang, the integration enhances capital efficiency on digital asset markets, thereby reaffirming DigiFT’s role in constructing Web3 market infrastructure of institutional quality.
More tokenized assets from respectable asset managers will be added to KuCoin’s collateral program in the future. KuCoin and DigiFT are raising the bar for institutional-grade legally compliant and capital-efficient digital finance solutions by using their technology to treat RWAs as recognized collateral.
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