BNP Paribas launches tokenization pilot, issuing French money market fund shares on-chain

Techub News, according to The Block, BNP Paribas Asset Management is conducting a new blockchain pilot using Ethereum, issuing tokenized shares of a French-registered money market fund for the first time. The tokenized shares are issued on-chain via BNP Paribas's AssetFoundry platform using a "permissioned access model on Ethereum," where holdings and transfers are restricted to qualified authorized participants meeting regulatory requirements to ensure compliance. BNP Paribas Asset Management acts as the fund issuer, with its securities services division serving as the transfer agent and dealer. This pilot is a limited internal group experiment aimed at testing the end-to-end process from issuance and transfer agency to tokenization and connection with a public blockchain.