BNP Paribas tokenises MMF share class on Ethereum
20 February 2026 France
Image: OleksKao/stock.adobe.com
A tokenised share class of an existing French-domiciled money market fund has been issued by BNP Paribas Asset Management and recorded on Ethereum.
The issuance was conducted via BNP Paribas’ Corporate and Investment Banking (CIB) AssetFoundry platform, with the tokenised shares issued under a permissioned access model restricted to eligible and authorised participants, aligning with applicable regulatory requirements.
BNP Paribas says the initiative was conducted as a one-off test, in which the firm was able to test new end-to-end processes, including issuance, transfer agency, tokenisation, and public-blockchain connectivity.
BNP Paribas Asset Management acted as the fund issuer, with BNP Securities Services acting as transfer agent and fund dealing services provider.
The AssetFoundry platform provided the tokenisation and connectivity layer to Ethereum, in addition to BNP Paribas’ Securities Services business operating the wallet setup and holding the private key.
The initiative, along with BNP Paribas Asset Management’s prior Luxembourg tokenised money market fund issuance on a private blockchain, is said to be indicative of the company’s approach to tokenisation and distribution exploration.
Edouard Legrand, chief digital and data officer at BNP Paribas Asset Management, says the issuance “supports our ongoing efforts to explore how tokenisation can contribute to greater operational efficiency and security within a regulated framework”.
Head of AssetFoundry at BNP Paribas CIB, Julien Clausse, adds: “This initiative allows us to better understand the operational and governance implications of tokenisation for money market funds.”
Paul Daly, head of distribution product solutions at BNP Paribas’ Securities Services business, believes that, by leveraging the group’s tokenisation infrastructure, “we deliver a streamlined and secure operational setup that supports fund processes enabled by public blockchain infrastructure”.
The issuance was conducted via BNP Paribas’ Corporate and Investment Banking (CIB) AssetFoundry platform, with the tokenised shares issued under a permissioned access model restricted to eligible and authorised participants, aligning with applicable regulatory requirements.
BNP Paribas says the initiative was conducted as a one-off test, in which the firm was able to test new end-to-end processes, including issuance, transfer agency, tokenisation, and public-blockchain connectivity.
BNP Paribas Asset Management acted as the fund issuer, with BNP Securities Services acting as transfer agent and fund dealing services provider.
The AssetFoundry platform provided the tokenisation and connectivity layer to Ethereum, in addition to BNP Paribas’ Securities Services business operating the wallet setup and holding the private key.
The initiative, along with BNP Paribas Asset Management’s prior Luxembourg tokenised money market fund issuance on a private blockchain, is said to be indicative of the company’s approach to tokenisation and distribution exploration.
Edouard Legrand, chief digital and data officer at BNP Paribas Asset Management, says the issuance “supports our ongoing efforts to explore how tokenisation can contribute to greater operational efficiency and security within a regulated framework”.
Head of AssetFoundry at BNP Paribas CIB, Julien Clausse, adds: “This initiative allows us to better understand the operational and governance implications of tokenisation for money market funds.”
Paul Daly, head of distribution product solutions at BNP Paribas’ Securities Services business, believes that, by leveraging the group’s tokenisation infrastructure, “we deliver a streamlined and secure operational setup that supports fund processes enabled by public blockchain infrastructure”.
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