PANews February 24 News, according to Crowdfundinsider, BNP Paribas Asset Management has issued tokenized shares of a French-registered money market fund on a public blockchain. The project was announced on February 20 and marks an important step in the bank’s exploration of tokenization technology, transitioning from a private ledger to the Ethereum public network.
The project uses a permissioned access model on Ethereum, allowing only pre-approved regulated participants to hold or transfer the tokenized shares, ensuring compliance with financial regulations while leveraging the transparency and security of the public blockchain. This experiment integrates multiple BNP Paribas business lines: the asset management company as the fund issuer, the securities services department as the transfer agent responsible for wallet infrastructure and private key custody, and the AssetFoundry platform of corporate and investment banking to handle the tokenization process and connect with Ethereum.
This pilot builds on previous experience issuing tokenized money market funds on a private blockchain in Luxembourg, testing different models to evaluate the technology and operational framework.
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