In a bold move, BNP Paribas Asset Management has launched a tokenized share class for a French money market fund on public blockchain infrastructure. This step marks an important advancement in usage
The project uses a permissioned access model on Ethereum. This means that only approved participants can own or transfer the tokens. It stays within strict rules to keep things safe and legal.
What is this tokenization project about?
BNP Paribas Asset Management created a new share class for one of its existing money market funds based in France. These shares now live as tokens on the public Ethereum network. For this they used the bank’s own AssetFoundry platform.
This is not the bank’s first attempt. Previously, they tokenized a money market fund in Luxembourg on a private blockchain. Now, with
The test was a small, internal experiment among BNP Paribas groups. This allowed them to control entire processes from start to finish: issuing shares, handling transfers, tokenizing and linking to the public blockchain.
Teamwork between BNP Paribas units
BNP Paribas brought together its top teams for this purpose:
- BNP Paribas Asset Management: Issued the fund shares.
- BNP Paribas Securities Services: Handled transfers and deals, set up wallets and kept private keys secure.
- AssetFoundry by BNP Paribas CIB: Equipped with tokenization tools and connected to Ethereum.
This teamwork emphasizes the bank’s strong design. It seamlessly combines asset management, securities services and technology platforms.
Why use with authorized access?
Ethereum is open and widely used. But for funds they added controls. Allowed tokens mean that only eligible people can join. This combines the power of public chains with security at bank level.
Benefits include:
- Better tracking of stocks thanks to the clear data of blockchain.
- Faster transfers without intermediary delays.
- Strong security of the Ethereum network.
- Test whether public chains are suitable for regulated financing.
For money market funds, which help large investors manage cash on a daily basis, tokenization can turn batch processing into real-time. This means faster purchases, sales and settlements, while the rules remain intact.
Voices from BNP Paribas leaders
“BNP Paribas Asset Management is committed to driving innovation that will ultimately benefit our clients. This second issuance of tokenized money market funds, this time using
infrastructure supports our ongoing efforts to explore how tokenization can contribute to greater operational efficiency and security within a regulated framework.” — Edouard Legrand, Chief Digital and Data Officer at BNP Paribas Asset Management
“BNP Paribas’ AssetFoundry platform delivers key capabilities for digital assets, from tokenization to network connectivity and wallet-related functionalities within a controlled design. This initiative allows us to better understand the operational and governance implications of tokenization for money market funds.”
— Julien Clausse, Head of AssetFoundry (Digital Assets & Tokenization) at BNP Paribas CIB
“BNP Paribas’ Securities Services business transforms innovation into tangible value for our clients. By acting as a transfer agent and leveraging the Group’s tokenization infrastructure, we deliver a streamlined and secure operational setup that supports fund processes, powered by
infrastructure, within a regulated and permitted context.” — Paul Daly, Head of Distribution Product Solutions at BNP Paribas’ Securities Services Division
Bigger picture: tokenization in finance
Tokenization turns real assets into digital tokens on blockchain. In the financial world, it promises faster, cheaper and clearer deals. Banks such as BNP Paribas are leading because they handle large amounts of money under strict regulations.
Money market funds hold short-term debt, such as government bonds. They are safe havens for cash. They tokenize
Challenges remain: rules vary by country, security must be of the highest level, and users need simple tools. But pilots like these build trust and knowledge.
Other banks are watching closely. Companies like BlackRock and JPMorgan are testing similar ideas. Soon, tokenized funds could be common, combining traditional finance with blockchain speed.
Who is BNP Paribas?
BNP Paribas is a top European bank in 64 countries with 178,000 employees. Most work in Europe. It excels in three areas:
- Commercial and personal banking.
- Investment and protection services.
- Corporate and institutional banking.
From Belgium to Asia Pacific, it serves everyone from people to large companies. It also promotes sustainability.
What’s next for Tokenization?
This pilot is a start. BNP Paribas can expand to more funds or partners. As Ethereum grows with upgrades such as better scalability, it will become a better fit for the financial world.
Investors benefit from efficiency. Save funds on costs. The industry is moving to digital assets. For more news, visit
Tokenization enabled
Key Takeaways:
- BNP Paribas tokenized a French money market fund on Ethereum.
- The authorized model keeps it regulated.
- Internal testing proves that end-to-end processes work.
- Leading the way for efficient fund management.
Stay tuned for more information about blockchain in the financial sector.
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