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BNP Paribas Asset Management issues a tokenised share class on Ethereum, testing permissioned access and end‑to‑end processes for regulated money‑market funds.
BNP Paribas Asset Management has issued a tokenised share class of a French‑domiciled money‑market fund on the public Ethereum network, marking a second tokenisation experiment after a private‑blockchain pilot in Luxembourg [1].
Key takeaways
The pilot used BNP Paribas’ AssetFoundry™ platform to tokenise the fund shares and connect them to Ethereum. Under a permissioned access model, only authorised participants could hold or transfer the tokens, aligning with regulatory requirements [3]. BNP Paribas Securities Services set up the wallet and retained the private key, while the CIB’s AssetFoundry team provided the tokenisation and connectivity layer [1]. The bank describes the project as a limited intra‑group experiment designed to assess how public blockchains can be integrated into regulated fund structures without compromising governance or investor protection [1].
The tokenisation effort complements other recent BNP Paribas initiatives. Earlier in 2024 the bank launched six crypto‑linked exchange‑traded notes (ETNs) for French retail investors, giving exposure to Bitcoin and Ether without direct crypto holdings [2]. BNP Paribas also joined the Canton Network, a blockchain focused on institutional finance and real‑world asset tokenisation, and backed Digital Asset’s funding round [2]. Together, these moves illustrate the bank’s strategy of exploring both private and public blockchain solutions for a range of financial products [2].
By experimenting with a public‑blockchain tokenised fund, BNP Paribas is gathering practical insights into the operational, legal, and governance challenges of bringing traditional money‑market assets onto open networks. If the permissioned‑access approach proves viable, it could enable more frequent and flexible processing of fund transactions while maintaining regulatory compliance. The pilot’s results will likely inform future decisions on whether to expand tokenised offerings beyond intra‑group tests, potentially influencing how other banks approach blockchain‑based fund distribution.
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Benji is Franklin Templeton’s proprietary blockchain-enabled recordkeeping and transfer agency infrastructure used to support tokenized investment products.
The Canton Network is a blockchain-based platform designed for financial institutions to tokenize and settle traditional securities while maintaining data privacy.
Stablecoins are being integrated into institutional workflows to provide liquidity and funding for the trading and settlement of tokenized assets.
AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 4 outlets · Jun 11, 2026 · How we report
Institutions including Goldman Sachs, BNY Mellon, BNP Paribas, Standard Chartered, Société Générale, and Deutsche Börse have piloted the network.