BNP Paribas issues tokenized money market fund on public blockchain, demonstrating full stack lifecycle capabilities

BNP Paribas Asset Management has issued a tokenised share class of an existing French-domiciled money market fund. The project involved the issuance of a tokenised share class of the BNP Paribas Asset Management money market fund on the public Ethereum network via BNP Paribas’ AssetFoundryTM platform. 

Source: BNP Paribas

➡️ Why this matters

Unlike piecemeal examples in the market, BNP Paribas took an integrated approach:

- BNP Paribas Asset Management acted as the fund issuer. 

- BNP Paribas Securities Services business acted as transfer agent and fund dealing services provider

- BNP Paribas CIB’s AssetFoundryTM platform provided the tokenisation and connectivity layer to the public blockchain network. 

- BNP Paribas’ Securities Services business operated the wallet setup and held the private key within the scope of this controlled intra‑group pilot

The next phase of tokenization adoption will be anchored on full stack capabilities - especially when big corporates and financial institutions come to market. 

Those with technical expertise, operational experience and regulatory approvals across the lifecycle of securities tokenization will be positioned well vs competitions.

Edouard Legrand, Chief Digital and Data Officer at BNP Paribas Asset Management: "This second issuance of tokenised money market funds on public blockchain supports our ongoing efforts to explore how tokenisation can contribute to greater operational efficiency and security within a regulated framework.”

Julien Clausse, Head of AssetFoundryTM (Digital Assets & Tokenisation) at BNP Paribas CIB: “BNP Paribas’ AssetFoundryTM platform delivers key digital-assets capabilities, from tokenisation to network connectivity and wallet-related functionalities within a controlled setup."

Paul Daly, Head of Distribution Product Solutions at BNP Paribas’ Securities Services: "By acting as transfer agent and leveraging the Group’s tokenisation infrastructure, we deliver a streamlined and secure operational setup that supports fund processes enabled by public blockchain infrastructure, within a regulated and permissioned context.” 

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