Europe’s largest asset management firm, Amundi, has announced the launch of its first tokenized money market fund shares (Amundi Funds Cash EUR) on the Ethereum blockchain.
The firm’s AUM amounts to approximately $2.3 trillion. The instrument was developed in partnership with CACEIS, which provides infrastructure and technical support.
According to the press release, the first transaction took place on November 4. Since then, the fund has been distributed in a hybrid manner: both traditionally and through the tokenized product.
Amundi believes that the use of blockchain technology offers several advantages for investment shares, including instant order execution, access to new investors, and 24/7 trading.
“Asset tokenization is a transformation that will accelerate globally in the coming years. This first initiative in the money market fund space demonstrates our expertise and the reliability of our methodology, covering specific use cases. Amundi will continue and expand its tokenization initiatives to benefit its clients in France and abroad,” noted Jean-Jacques Barberis, Head of Institutional and Corporate Clients at the firm.
According to RWA.xyz, the total volume of real-world assets tokenized on the blockchain has exceeded $36 billion, with 250 such products having over 550,000 holders.
The largest segment ($18.5 billion) currently is private credit. This is followed by U.S. Treasury bonds ($9.2 billion).
According to estimates by Standard Chartered analysts, by 2028, the total capitalization of real-world digital assets will grow to $2 trillion.
Earlier in November, the Bank for International Settlements warned of global financial risks due to RWA.