Amundi Tokenizes Money Market Fund on Ethereum Blockchain
Europe's largest asset manager launches its money market fund on blockchain for the first time, following the trend of institutional RWA tokenization.
French asset manager Amundi, Europe's market leader with €2.2 trillion in assets under management, has brought its money market fund "Amundi Funds Cash EUR" to the Ethereum blockchain [1]. With this move, the company is following BlackRock's example and further driving the boom in Real World Assets (RWA).
The technical implementation uses a hybrid model: Partner CACEIS provides a private distributed ledger infrastructure for internal management, which is specifically linked to the public Ethereum blockchain. The first test transaction was successfully completed on November 4 [1].
Investors can continue to purchase fund shares through conventional channels or hold them as tokenized assets. Amundi highlights the advantages of blockchain technology: immediate order execution, expanded distribution channels, and 24/7 operability [1]. The integration of stablecoins is planned for the future.
Ethereum dominates the RWA sector with a market share of approximately 64 percent, which rises to over 72 percent when including Layer-2 networks [1]. BlackRock's BUIDL fund, with $2.3 billion, is the largest tokenized fund on Ethereum.
Sources
- [1]btc-echo.de
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