A press release titled, "BNP Paribas explores public blockchain infrastructure for money market fund tokenisation," tells us, "BNP Paribas Asset Management has issued a tokenised share class of an existing French-​domiciled money market fund, marking a new step in its exploration of fund tokenisation using public blockchain infrastructure. The project involved the issuance of a tokenised share class of the BNP Paribas Asset Management money market fund on the public Ethereum network via BNP Paribas' AssetFoundry platform. The tokenised shares are issued under a permissioned access model, whereby holdings and transfers are restricted to eligible and authorised participants, in line with applicable regulatory requirements." The release continues, "This initiative follows BNP ​Paribas Asset Management'​s earlier tokenised money market fund issuance in Luxembourg on a private blockchain. This second tokenised money market fund project was implemented using a different technological and operational setup through a public blockchain. Together, these initiatives reflect BNP Paribas' approach to exploring multiple tokenisation and distribution models to better serve the fund managers and their investors.... The tokenised fund shares were issued on the public Ethereum network with permissioned tokens ensuring that only eligible participants can hold and transfer the tokens, while benefiting from the strength and broad adoption of public blockchain infrastructure. This approach allows BNP Paribas and BNP Paribas Asset Management to assess, how public blockchains can be integrated into regulated fund structures, while maintaining the highest standards of governance, investor protection, and operational robustness." Edouard Legrand, Chief Digital and Data Officer at BNP Paribas Asset Management, comments, "​BNP Paribas Asset Management is committed to driving innovation that will ultimately benefits our clients. This second issuance of tokenised money market funds, this time using public blockchain infrastructure, supports our ongoing efforts to explore how tokenisation can contribute to greater operational efficiency and security within a regulated framework." BNP Paribas Securities Services business Head of Distribution Product Solutions Paul Daly adds, "​BNP Paribas' Securities Services business transforms innovation into tangible value for our clients. By acting as transfer agent and leveraging the Group'​s tokenisation infrastructure, we deliver a streamlined and secure operational setup that supports fund processes enabled by public blockchain infrastructure, within a regulated and permissioned context."

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