Amundi has issued a tokenised share class of its Amundi Core STOXX Europe 600 index fund on the public Ethereum blockchain, extending its use of tokenisation to equity funds, the asset manager announces in a press release.
The share class was developed with CACEIS, using its technology and infrastructure for the tokenisation of fund units. The fund will continue to operate within its existing structure and remain available through traditional distribution channels.
Expansion
The launch follows Amundi’s introduction of a tokenised share class of a money market fund and the option to subscribe using stablecoins.
The asset manager said it plans to develop further tokenised funds as digital market infrastructure and regulatory frameworks evolve. It cited automated processes, faster settlement, accessibility and transparency among the potential applications of tokenisation.
Amundi’s latest initiative extends its use of blockchain-based fund units from money market investments to a broad European equity index strategy.