BNP Paribas Tokenizes Money Market Fund on Public Ethereum Blockchain

BNP Paribas has taken a significant step toward blockchain-based financial infrastructure. The asset management division of the French banking group has tokenized shares of a money market fund domiciled in France and registered them on the public Ethereum blockchain ^[1].

Unlike previous projects, the bank is deliberately using public blockchain infrastructure this time instead of a private solution. However, access remains strictly regulated: only authorized participants are permitted to hold and transfer the tokens – a so-called permissioned model ^[1].

The group-wide pilot test covers the entire process, from issuance to transfer agent functions and technical integration with Ethereum. BNP Paribas Asset Management acted as issuer, while Securities Services handled settlement and custody. The technical tokenization was carried out via the bank's proprietary AssetFoundry platform ^[1].

For the financial industry, the project signals that tokenization is evolving from experimental approaches to robust process chains. Even though the permissioned model restricts the open nature, public networks are increasingly gaining importance as settlement and data layers for institutional assets ^[1].