Summary
- Amundi reported that it launched a euro-denominated money market fund in the form of tokenized shares.
- It said the fund is designed so investors can choose between the blockchain-based tokenized version and the traditional version.
- It added that this move is interpreted as a sign that tokenization is being fully introduced in European institutional finance.
Europe's largest asset manager Amundi has launched a euro-denominated money market fund in the form of 'tokenized shares' (tokenized shares). This is Amundi's first major experiment offering traditional financial products in tokenized form, and it has attracted attention from the crypto asset industry.
On the 27th (local time), according to crypto-focused media Cointelegraph, this tokenized fund maintains the same structure as existing money market funds but is designed to offer both a blockchain-based tokenized version and the traditional version simultaneously so that investors can choose their preferred method.
Ahead of the launch of this tokenized product, Amundi built infrastructure in cooperation with major European custodian bank CACEIS. It explained that this allows custody, settlement, and management procedures for tokenized assets to be managed at the same level as existing financial systems.
As attempts to tokenize money market funds in the European financial market gradually expand, Amundi's move is interpreted as a sign that tokenization has entered a full-fledged stage in institutional finance.
