Amundi launches an Ethereum-based tokenized share class of its euro money market fund, using CACEIS wallet infrastructure to enable on-chain orders, with settlement in stablecoins or future CBDCs while keeping traditional channels open.
Summary
- Amundi’s new share class, Amundi Funds Cash EUR – J28 EUR DLT, records ownership and transactions on Ethereum for transparency and traceability.
- CACEIS provides the digital wallet and blockchain order platform, supporting continuous order processing and near-instant execution.
- Subscriptions and redemptions are designed to settle in stablecoins or future CBDCs, adding an option alongside existing distribution routes.
Amundi, Europe’s largest asset manager, has launched its first tokenized share class on the Ethereum network, the company announced, representing an expansion of the firm’s digital asset strategy.
The product provides access to one of the firm’s money market funds through a share class recorded on a public blockchain, according to Amundi. The new class, designated Amundi Funds Cash EUR – J28 EUR DLT, operates on the Ethereum (ETH) network.
The blockchain-based structure enables transparent record keeping and full traceability of transactions, the company stated. The launch forms part of a broader initiative to modernize fund infrastructure through distributed ledger technology and expand the firm’s investor base, according to Amundi.
Amundi developed the project in partnership with CACEIS, an asset servicing firm that provides the digital wallet system and blockchain-based order platform. The infrastructure enables continuous order processing and establishes a framework for subscriptions and redemptions to be settled in stablecoins or potential future central bank digital currencies, the companies said.
The integration facilitates instant order execution and continuous operations, according to Amundi and CACEIS. The fund remains accessible through traditional distribution channels, with the tokenized share class serving as an additional option for investors rather than a replacement for existing access methods, the firms stated.
