MUFG Group to Develop Tokenized MMF Products in Collaboration with Progmat

On December 4th, Mitsubishi UFJ Asset Management, Mitsubishi UFJ Morgan Stanley Securities, and Mitsubishi UFJ Trust Bank announced their collaboration with Progmat. This partnership marks the commencement of infrastructure development aimed at commercializing Japan's first tokenized investment trust products. The initial focus will be on developing the 'Tokenized Money Management Fund (TMMF)', with a goal to offer it to institutional investors by 2026. A Money Management Fund (MMF) typically invests in highly creditworthy short-term financial instruments such as government and corporate bonds. It is a type of fixed-income mutual fund that does not incorporate stocks, prioritizing safety and liquidity in its operations.