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The fund is tokenized in collaboration with the European asset servicing, custody, depositary, and fund administrator, CASEIS.
The fund features a hybrid structure as it remains accessible in the traditional way and via the tokenized share AMUNDI FUNDS CASH EUR – J28 EUR DLT C.
Amundi Investment Solutions said the fund registered its first transaction on November 4.
Amundi Investment Solutions, a leading European asset manager, has announced the launch of its first tokenized fund. The company said Friday that AMUNDI FUNDS CASH EUR money market fund is a hybrid fund that also allows accessibility traditionally via the tokenized share AMUNDI FUNDS CASH EUR – J28 EUR DLT C.
The asset manager reported €2.3 trillion in assets under management as of September 30.
According to the announcement on the Amundi website, the company collaborated with European asset servicing, custody, depositary, and fund administrator, CASEIS, to tokenize the fund.
The fund, which is tokenized on the public blockchain, Ethereum, to ensure transparent record-keeping of fund units and traceability of transactions, registered its first transaction on November 4.
Commenting on the announcement, Jean-Jacques Barbéris, Head of Institutional and Corporate Clients, and ESG at Amundi, said: “The tokenization of assets is a transformation set to accelerate in the coming years around the world. This first initiative on a money market fund demonstrates our expertise and the robustness of our methodology in covering concrete use cases. Amundi will continue and expand its tokenization initiatives to benefit its clients in France and internationally.”
The company believes that leveraging blockchain technology brings notable benefits to investors and fund unit distributors, including instant order execution, expanded distribution to new generations of investors, and 24/7 operability.
Jean-Pierre Michalowski, Chief Executive Officer at CACEIS, commented: “With the new hybrid Transfer Agent service, our clients can quickly and easily benefit from a new distribution channel via blockchain to their investors. This is a decisive step towards achieving our goal of offering 24/7 subscription and redemption services for investment fund units payable in stablecoins (EMT) or central bank digital currency when it becomes available.”
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