Cocorico! There tokenization is a very fashionable subject in the cryptocurrency sector And France is no exception to this trend. This practice makes it possible to represent active active world (Real World Asset or Rwa) in the form of digital tokens on a blockchain. Thus, many companies have embarked on the tokenization of their products and this is particularly the case with BNP Paribas which has just announced the tokenization of monetary funds (MMF).
- BNP Paribas recently announced the tokenization of monetary fund shares, thus marking a notable advance in the use of cryptocurrencies in France.
- This initiative aims to improve operational efficiency thanks to blockchain, allowing instant execution of orders and real -time access to financial information.
BNP Paribas is embarking on the tokenization of monetary funds…
In a publication published Wednesday May 21, BNP Paribas Asset Management announced the launch of native token monetary fund shares.
In practice, the company will therefore toknize a class of parts of a existing monetary fund in Luxembourg And this will allow the company to take advantage of the fund’s monitoring history and treat cross -border transactions with a French counterpart.
According to the announcement, the main objective of this project is to use the blockchain to improve theOperational efficiency and provide real -time information On subscriptions and redemptions.
« More specifically, the fact that the actions are natively tokenized allows an instant execution of orders on the chain based on the reception of the net asset value instead of the execution of the orders by today’s lots. »»
Thibault Malin, Deputy Director General of Monetary Market funds, BNP Paribas Asset Management – Source: Press release
… With the specialist in the matter Allfunds Blockchain
In addition, this will also speed up and improve transaction regulations for customers in the future. To carry out this project, BNP Paribas joined forces with Allfunds Blockchaina company specializing in blockchain.
For her part, she said he was honored to participate in this major advance of BNP Paribas ::
“Our blockchain platform has once again demonstrated its versatility and reliability in the management of various applications and in the guarantee of secure transactions. The native tokenization of MMFs will make it possible to fully digitize the life cycle of these products for which investors and asset managers require shorter deadlines and more responsiveness, in particular in the placement and execution of orders. »»
Ruben Nieto, Managing Director of Allfu Blockchain – Source: press release
Last April, it was JP Morgan bank which announced the tokenization of $ 1 billion in bonds on behalf of the Asian investment bank for infrastructure. Moreover, the advantages of these technologies have not escaped the central banks which gently eye Smart Contracts And on tokenization to improve their systems. When you are told that everyone wants to be!