Amundi has launched its first tokenised share of the AMUNDI FUNDS CASH EUR money market fund. The first transaction took place at the beginning of November, and the fund is now distributed in a hybrid manner: it remains accessible in the traditional way and via the tokenised share AMUNDI FUNDS CASH EUR – J28 EUR DLT (C). The fund uses distributed ledger technology and the public Ethereum blockchain to ensure transparent record-keeping of fund units and traceability of transactions. The use of blockchain technology brings several benefits for investors and fund unit distributors: instant order execution, expanded distribution to new generations of investors, and 24/7 operability.
CACEIS is providing a hybrid TA solution providing the technology and infrastructure for tokenising fund units, digital portfolios for investors, and the digital order platform for subscriptions and redemptions. CACEIS says that this is a decisive step towards achieving its goal of offering 24/7 subscription and redemption services for investment fund units payable in stable coins (EMT) or central bank digital currency as and when it becomes available.