French Bank BNP Paribas Asset Management Launches 'Tokenized Money Market Fund'

BNP Paribas Asset Management (BNP Paribas AM), the largest bank in France, has launched a money market fund (MMF) using a 'native tokenization' method.

According to CrowdFund Insider on the 25th (local time), BNP Paribas Asset Management announced that it has launched a fund using digital tokenization to test cross-border transactions based on distributed ledger technology (DLT). Through this, they aim to verify the applicability of blockchain technology in the traditional asset market.

Thibault Marlin, Deputy Chief Investment Officer (CIO) of BNP Paribas Asset Management, stated, "By utilizing innovative technology, we can improve the investment experience for our clients," and added, "We will continue to be at the forefront of financial innovation for our clients."

Paul Daley, Head of Securities Services Solutions at BNP Paribas Asset Management, predicted, "The tokenization of money market funds is an opportunity to secure a broader investor base," and added, "The direct trading and instant settlement system using blockchain technology will greatly impact liquidity increase."