European asset manager Amundi has carried out its first transaction in a new tokenised share class of its Amundi Funds Cash EUR money market fund, the firm announced. The fund can now be subscribed and redeemed both through traditional channels and via the new blockchain-based share class, Amundi Funds Cash EUR – J28 EUR DLT (C). The first tokenised transaction took place on 4 November.
According to Amundi, the tokenised share class uses distributed ledger technology on the public Ethereum network. The aim is to record fund units and transaction histories directly on the blockchain, offering a parallel infrastructure alongside standard fund processing.
Partnering with CACEIS
The initiative is being carried out with CACEIS, which provides the tokenisation framework, digital investor wallets, and a DLT-enabled order platform for subscriptions and redemptions. The companies say the setup enables instant order execution and continuous availability, with the potential to broaden access to investors comfortable with digital channels.
Amundi describes the launch as an initial, practical application of tokenisation within its product range and signals that it expects the trend to accelerate. CACEIS highlights the move as part of its development of a hybrid transfer-agent model, with the stated goal of eventually supporting round-the-clock fund transactions, including payments in stablecoins or future central-bank digital currencies.
