Overview
- BNP Paribas Asset Management issued a tokenized share class of a French-domiciled money market fund on the public Ethereum network via its AssetFoundry platform.
- The one-off intra-group pilot restricts holdings and transfers to authorized participants, testing issuance, transfer agency, tokenization and public blockchain connectivity.
- Reporting indicates the tokens use the ERC-3643 standard to enforce regulated access and compliance controls on-chain.
- The effort follows a 2025 private-ledger trial and places BNP Paribas alongside incumbents such as BlackRock, JPMorgan and Fidelity that have deployed tokenized money market funds on Ethereum.
- In parallel, the bank helps lead Qivalis, a euro-backed stablecoin consortium seeking Dutch EMI authorization and targeting a commercial launch in the second half of 2026 for institutional settlement use.