BNP Paribas Launches Native Digital Shares on Allfunds Blockchain

BNP Paribas Asset Management (BNPP AM) has pioneered a new approach to asset tokenization by issuing native digital shares of a money market fund (MMF) on the Allfunds Blockchain. This innovative initiative creates entirely new, blockchain-backed digital shares instead of relying on existing funds, marking a significant step forward in decentralized finance (DeFi). A cross-border transaction involving these newly issued shares was successfully executed between BNP Paribas and a French counterparty. BNPP AM served as the transfer agent and transaction service provider, while Allfunds Blockchain provided technological support.