BNP Paribas launches a pilot project for tokenized Ethereum money market fund

According to The Block, BNP Paribas Asset Management recently announced the issuance of a tokenized share of a French local money market fund on the Ethereum blockchain through its AssetFoundryTM platform.

The project adopts a "permissioned access model," ensuring that only qualified and authorized participants can hold and transfer assets to comply with relevant regulatory requirements. This is BNP Paribas's second issuance of a tokenized money market fund, aimed at testing the complete end-to-end process from issuance, transfer agency to tokenization and public blockchain connectivity.