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Europe’s Largest Asset Manager Launches Tokenized Fund on Ethereum

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Amundi has launched Europe’s first tokenized share of a cash market fund (AMUNDI FUNDS CASH EUR), making it out there by way of each conventional and blockchain-based distribution, in accordance with an announcement on Thursday.

The fund uses distributed ledger know-how and the general public Ethereum blockchain “to make sure clear record-keeping of fund items and traceability of transactions,” know-how companion CACEIS said.

CACEIS is offering the tokenization infrastructure and a digital platform for subscriptions and redemptions. The first transaction was recorded on November 4 on the Ethereum community.

Europe’s €2.2T Asset Manager

Amundi is the area’s main asset supervisor and one of many tenth largest globally, with round 2.2 trillion euros in property below administration. It serves 100 million purchasers, together with people, establishments, and corporates, and employs 5,700 professionals throughout 35 international locations.

The tokenization initiative on Ethereum represents Amundi’s transfer towards digital asset distribution, positioning the agency on the forefront of blockchain adoption in conventional asset administration.

“The tokenization of property is a metamorphosis set to speed up within the coming years around the globe. This first initiative on a cash market fund demonstrates our experience and the robustness of our methodology in protecting concrete use circumstances,” stated Jean-Jacques Barbéris, Head of Institutional and Corporate Clients, at Amundi.

The transfer is a major improvement for Ethereum, solidifying its place because the {industry} chief in tokenizing real-world property.

The worth of tokenized property on-chain is presently at an all-time high of $36 billion, according to RWA.xyz.

Ethereum Still Dominates RWA Tokenization

Ethereum remains the industry-dominant participant for RWA with round 64% market share of worth. This dominance climbs to over 72% when layer-2 networks are included. Ethereum additionally hosts greater than 60% of stablecoins, stories RWA.xyz.

The BlackRock BUIDL fund is the biggest on Ethereum with $2.3 billion in whole asset worth, whereas Franklin Templeton’s cash market fund has greater than $825 million in property. Both funds even have a small share tokenized on different chains.

The publish Europe’s Largest Asset Manager Launches Tokenized Fund on Ethereum appeared first on CryptoPotato.

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