BNP Paribas Expands Blockchain Reach with Tokenized Money Market Fund Launch

BNP Paribas has made a significant move into the world of blockchain by launching a tokenized money market fund on the Ethereum network.

The French banking giant joins a growing list of financial institutions exploring the potential of public blockchains for settlement purposes. BNP Paribas is one of Europe's largest banks, with over $3 trillion in assets under management.

According to the bank, the tokenized shares utilize a permissioned access model, which allows them to maintain control over digital assets while still utilizing the underlying infrastructure of public blockchains like Ethereum. This approach reflects a growing consensus among institutional asset managers, who want to leverage the benefits of public networks without sacrificing the strict access controls inherent in traditional financial systems.