Amundi is advancing its digital asset strategy with the introduction of a tokenized share class for its euro cash fund, giving investors blockchain-based access and enabling faster, continuous trading.
The firm announced Thursday that the Amundi Funds Cash EUR product now operates in a hybrid structure. Investors can either subscribe to the traditional cash-settled share class or opt for a tokenized version issued on the Ethereum (ETH) blockchain. According to the statement, the first transaction in the new format was completed on Nov. 4. The launch was developed in partnership with CACEIS, which provides the digital wallets and blockchain infrastructure that support subscriptions and redemptions.
Tokenizing fund units turns them into blockchain-registered assets, improving transparency and reducing settlement times. “The fund uses distributed ledger technology and the public Ethereum blockchain to ensure transparent record-keeping of fund units and traceability of transactions,” Amundi said.
The move strengthens Europe’s lead in the tokenized-fund ecosystem. Asset managers in Luxembourg, France and Germany have already been issuing blockchain-native fund units, supported by regulatory frameworks that spell out how digital shares can be issued, stored and recorded.
CACEIS said the hybrid structure will eventually support purchases using stablecoins or central bank digital currencies (CBDCs). “With the new hybrid Transfer Agent service, our clients can quickly benefit from a blockchain distribution channel to their investors,” said CACEIS CEO Jean-Pierre Michalowski.
“This represents an important step toward delivering 24/7 subscription and redemption capabilities for fund units, payable in stablecoins or—in the future—CBDCs,” he added.
