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KuCoin Becomes First Exchange to Support UBS uMINT Tokens
In a groundbreaking move, KuCoin has become the first cryptocurrency exchange to support UBS uMINT tokens. This decision opens up new opportunities for institutional investors, allowing them to utilize their tokens as off-exchange collateral for trading digital assets without transferring actual ownership of the funds.
This partnership is made possible through DigiFT, an authorized platform for managing tokenized real-world assets (RWAs). The UBS uMINT token is built on the Ethereum network and grants access to cash management solutions backed by high-quality assets within a controlled risk framework.
The integration with KuCoin enables the mirroring of these asset holdings with stablecoin equivalents. This enhancement in liquidity and reduction in risks without compromising investors’ control or returns allows institutions to operate more efficiently while maintaining security and regulatory compliance through regulated third-party custodians.
In an official statement, BC Wong, CEO of KuCoin, emphasized that this collaboration strengthens accessibility to tokenized traditional investments, simplifying their use in global digital asset trading. Meanwhile, Henry Zhang, CEO of DigiFT, highlighted the platform’s focus on yield-generating instruments and regulatory compliance as it builds institutional-grade capital market infrastructure for Web3.
The integration aims to improve capital efficiency through tokenized assets. KuCoin is committed to expanding its support for tokenized assets to promote widespread adoption and construct a more interconnected financial system.
Source: crypto-economy.com
