Amundi, one of the largest asset managers in Europe, has issued a tokenized share class of its flagship euro cash fund, in an effort to bring more products onto distributed ledgers.
The Amundi Funds Cash EUR fund now trades in a hybrid setup. Investors can purchase the traditional share class with cash or hold a tokenized version on Ethereum
The first transaction was settled on Nov. 4, the statement said. Amundi developed the product in collaboration with CACEIS, a European asset-servicing firm that provides the digital wallets and the platform for handling subscriptions and redemptions.
Tokenization turns fund shares into blockchain-based records, which promises quicker settlement and a clearer audit trail.
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