Amundi Launches Tokenized Money Market Fund on Ethereum, Paving the Way for 24/7 Trading

Amundi's Blockchain Initiative: Amundi has launched its first blockchain-based fund transaction by introducing a tokenized share class of its AMUNDI FUNDS CASH EUR money market fund, utilizing Ethereum's public blockchain for ownership recording and transaction processing.

Hybrid Distribution Model: The new fund distribution model allows traditional investors to access the fund through conventional channels while also catering to digital-first investors, marking a significant step in the institutional adoption of tokenized financial products in Europe.

Partnership with CACEIS: Amundi partnered with CACEIS to provide the necessary technology infrastructure for tokenization, enabling features like digital wallets and a digital order platform for seamless subscriptions and redemptions.

Broader Industry Trends: The launch reflects a growing trend among asset managers towards tokenization, with significant increases in tokenized money market fund assets and plans for future offerings, including Bitcoin exchange-traded notes, indicating a shift in fund distribution and liquidity management practices.