Amundi has introduced a tokenized share class for its euro cash fund, expanding investor access through blockchain rails and enabling near-instant, always-on transactions.
The asset manager announced Thursday that the Amundi Funds Cash EUR product will now run on a hybrid model. Investors can subscribe to the conventional share class using cash or opt for tokenized units issued on Ethereum (ETH). The first transaction under the new framework was processed on Nov. 4. Amundi built the offering alongside CACEIS, which supplies the digital wallets and blockchain platform used to manage subscriptions and redemptions.
Tokenizing fund units transforms them into blockchain-recorded assets, a shift that promises faster settlement cycles and enhanced transparency. “The fund uses distributed ledger technology and the public Ethereum blockchain to ensure transparent record-keeping of fund units and traceability of transactions,” the announcement said.
The rollout strengthens Europe’s position as a leader in regulated tokenized investment vehicles. Asset managers in jurisdictions such as Luxembourg, France and Germany have been issuing blockchain-native fund units for several years, supported by regulatory frameworks that outline clear rules for digital share issuance and custody.
CACEIS said the fund will eventually support purchases via stablecoins or central bank digital currencies (CBDCs). “With the new hybrid Transfer Agent service, our clients can rapidly open a blockchain-based distribution channel for their investors,” said CACEIS CEO Jean-Pierre Michalowski.
“This represents a major step toward providing 24/7 subscriptions and redemptions for fund units settled in stablecoins or, when available, CBDCs,” he added.
