The Italian arm of Amundi is keen to be a trailblazer and tokenize money market funds in Europe. Credit Agricole-owned Amundi is one of the top three European asset managers with €1.96 trillion ($2.1tn) assets under management. To put that in context, it manages more than either UBS or BNY Mellon.
“With blockchain, I can distribute the same common funds with a competitive advantage. So, I can envision that Amundi, the largest European manager of euro-denominated money funds, can create the first tokenized fund under Italian law, open and digitally native,” said Gabriele Tavazzani, CEO of Amundi Italy. He was talking at an event held at the Italian Stock Exchange, organized by BlockInvest and Hercle.
He continued, “A fund that I can hold in my wallet, absolutely fungible, which I can not only redeem but also transfer or even use as a means of payment or collateral.”
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