Amundi, Europe”s leading asset manager, has made a significant move in the blockchain space by launching its first tokenized fund share. This initiative, announced on November 27, involves the AMUNDI FUNDS CASH EUR money market fund and utilizes the Ethereum blockchain for its operations.
The inaugural transaction occurred on November 4, marking a pivotal step in Amundi”s commitment to integrating blockchain technology within their asset management services. The fund is now accessible through both traditional and tokenized methods, specifically via the AMUNDI FUNDS CASH EUR – J28 EUR DLT (C).
By employing Distributed Ledger Technology (DLT), Amundi aims to enhance transparency in the record-keeping processes, ensure traceability of transactions, and facilitate instant order execution. This hybrid approach provides expanded access to a new generation of investors, enabling 24/7 operability in the fund”s transactions.
Amundi”s collaboration with CACEIS, a prominent asset servicing bank, plays a crucial role in this launch. CACEIS offers essential services including execution, clearing, custody, and fund administration, along with the necessary technology for tokenizing funds. Jean-Pierre Michalowski, CEO of CACEIS, emphasized that this new hybrid Transfer Agent service allows clients to leverage blockchain for seamless subscription and redemption services for investment units, potentially utilizing stablecoins or Central Bank Digital Currencies (CBDCs) when they become available.
According to Jean-Jacques Barbéris, Head of Institutional and Corporate Clients and ESG at Amundi, this tokenization initiative showcases the firm”s expertise and robust methodology in managing real-world asset (RWA) applications. He noted that Amundi is committed to expanding its tokenization efforts to cater to both French and global clientele.
The global landscape of asset tokenization is evolving rapidly, with other notable players like BlackRock entering the space. BlackRock recently launched BUIDL, its first tokenized fund on Ethereum, with plans to extend its offerings to the Solana blockchain. This trend marks a significant uptick in the RWA sector, with total value locked (TVL) in tokenized assets surpassing $10 billion, a figure that soared to over $17 billion in November, according to DeFi Llama data.
Amundi”s pioneering move not only underscores its leadership in asset management but also positions it at the forefront of blockchain adoption in Europe, paving the way for future innovations in the asset management industry.
