BNP Paribas Asset Management has issued a tokenised share class of French‑domiciled money market fund, recorded on the Ethereum public blockchain network.
The network uses a permissioned access model, whereby holdings and transfers are restricted to eligible and authorised participants, in a controlled regulatory framework.
Within this project, BNP Paribas Asset Management acted as the fund issuer. BNP Paribas Securities Services business acted as transfer agent and fund dealing services provider, while BNP Paribas CIB’s AssetFoundryTM platform provided the tokenisation and connectivity layer to the public blockchain network.
Moreover, BNP Paribas’ Securities Services business operated the wallet setup and held the private key within the scope of this controlled intra‑group pilot.
BNP Paribas sees tokenisation as being used as an alternative to traditional batch‑based fund processing, including more regular and flexible processing of fund related operations.
Paul Daly, head of Distribution Product Solutions at BNP Paribas’ Securities Services business said: “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.”
