Europe's largest asset manager Amundi tokenizes money market fund on Ethereum
Quick Take Amundi has issued its first tokenized share class of a money-market fund on Ethereum as part of a new hybrid distribution model. The initiative was launched in collaboration with CACEIS, which provides blockchain-based transfer agent infrastructure and a 24/7 digital order platform.
Amundi, Europe's largest asset manager with approximately $2.3 trillion in assets under management, has announced the launch of the first tokenized shares of one of its money market funds.
According to the firm, the fund is now available as a new tokenized share class labeled Amundi Funds Cash EUR - J28 EUR DLT, using distributed ledger technology.
The new share class is recorded on the public Ethereum blockchain, which the Paris-headquartered firm said enables transparent record-keeping of fund units and full transaction traceability. Amundi framed the launch as a milestone in its wider digital assets roadmap, positioning tokenization as a way to modernize fund infrastructure and broaden investor access.
The initiative was built in collaboration with CACEIS, one of Europe's top asset-servicing providers and transfer agents. CACEIS supplies the technology stack for the fund's tokenization, including digital wallets for investors and a blockchain-based order platform supporting subscriptions and redemptions.
"This is a decisive step towards achieving our goal of offering 24/7 subscription and redemption services for investment fund units payable in stablecoins (EMT) or central bank digital currency when it becomes available," CACEIS CEO Jean-Pierre Michalowski said in a statement .
The firms noted that blockchain integration offers several benefits: instant order execution, operational continuity on a 24/7 basis, and the potential to reach new investor segments. They also emphasized that the fund remains fully accessible through traditional distribution routes, with the tokenized share providing an additional channel rather than replacing existing processes.
Jean-Jacques Barberis, Head of Institutional and Corporate Clients and ESG at Amundi, said the tokenization of assets is a "transformation set to accelerate in the coming years around the world," adding that the firm will continue to expand its tokenization initiatives for clients in France and internationally.
Rapid expansion in RWA tokenization
The tokenization of real-world assets on blockchains has witnessed rapid expansion in 2025, rising from a market cap of $15.2 billion at the start of the year to $37.1 billion as of Nov. 27.
The Provenance blockchain currently leads the segment, with a tokenized RWA market cap of $13.9 billion, boosted by significant issuance from Figure Technologies — the leading independent non-bank home equity line of credit originator in the U.S., which went public on the Nasdaq in September.
Ethereum is second, with a tokenized RWA market cap of $12.4 billion, followed by smaller issuance on ZKsync, BNB Chain, Polygon, and others.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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