Rich by Coin

BNP Paribas Asset Management (BNPP AM) has issued a tokenized share class of an existing money market fund on the Ethereum blockchain, using AssetFoundry, BNPP CIB’s tokenization platform that relies on public blockchains rather than a Canton permissioned network. Although the underlying blockchain was permissionless, the issued tokens were permissioned, with BNPP AM serving as issuer and BNPP Securities Services acting as transfer agent, fund dealing services provider, and wallet provider. This arrangement demonstrates how tokenization can integrate with traditional fund operations within a regulated framework.

The project highlights how regulated, intragroup tokenized fund structures can operate on public blockchain infrastructure while maintaining governance and compliance. It also contrasts AssetFoundry with other tokenization approaches, illustrating BNPP’s approach to tokenized fund structures within a corporate group context. By leveraging BNPP’s tokenisation infrastructure, the group aims to streamline processes and enhance security, aligning new technology with existing regulatory requirements and operational controls.

The intragroup nature of the issuance underscores BNPP’s strategy to explore scalable, compliant tokenized fund solutions within its corporate ecosystem. This demonstrates BNPP’s ongoing effort to balance innovation with regulatory compliance within a corporate group.