BNP Paribas taps Ethereum for new money market fund tokenization pilot

BNP Paribas Asset Management is conducting a blockchain pilot by issuing tokenized shares for a French-domiciled money market fund on the Ethereum network. These tokenized shares utilize BNP Paribas’ AssetFoundryTM platform and operate under a permissioned access model on Ethereum, restricting holdings and transfers to authorized participants to comply with regulations. This initiative was a limited, intra-group experiment designed to test end-to-end processes, including issuance, transfer agency, tokenization, and public blockchain connectivity within a controlled environment. Edouard Legrand, Chief Digital and Data Officer, stated the pilot supports efforts to explore how tokenization can enhance operational efficiency and security. This follows previous work by BNP Paribas in the tokenization space, including issuing an onchain share class of a money market fund with Allfunds Blockchain last year.

(Source：The Block)