French Bank Société Générale Initiates Tokenization Pilot, Launches On-Chain Shares of French Money Market Fund

BlockBeats News, February 21st, according to Coindesk, French asset management company of BNP Paribas is conducting a new round of blockchain pilot using Ethereum, issuing for the first time tokenized shares of a French registered money market fund.

The announcement shows that the tokenized shares are issued on-chain through BNP Paribas' Asset Foundry platform, using an "Ethereum-based permissioned access model" — "holding and transfer restricted to eligible authorized participants to ensure compliance."

The company stated: "The pilot is a one-time, limited internal group experiment designed to test end-to-end new processes within a controllable regulatory framework, from issuance, transfer agent to tokenization, and connection to public blockchains."

French BNP Paribas Asset Management acts as the fund issuer, with its securities services division acting as transfer agent and broker.