Amundi just turned tokenised money market funds from theory into reality

The conversation around tokenisation in asset management has been going for years. Most of it has stayed theoretical. That is starting to change.

Amundi, Europe’s largest asset manager, has successfully launched tokenised money market funds in the form of new share classes for the Amundi Money Market Fund, Short Term.

The share classes are denominated in euro and US dollars. They were developed specifically for Ant International, a leading global digital payments and financial technology company, following a partnership announced last November.

CACEIS, the European leader in asset servicing, acts as both transfer agent and tokenisation agent in the arrangement. The three institutions have built something that did not exist before: a real-time, blockchain-powered investment solution for institutional treasury management.

What tokenisation actually means here

Tokenisation is the process of representing ownership of a financial asset as a digital token on a blockchain. In practice, it means transactions can settle instantly, around the clock, without the friction of traditional fund infrastructure.

For corporate treasurers managing liquidity across multiple markets and time zones, that matters. Traditional money market fund investments are constrained by cut-off times, settlement windows and manual processes. A tokenised solution removes those constraints.

Ant International has been using blockchain for internal treasury management since 2019. The partnership with Amundi takes that capability to a new level. Kelvin Li, General Manager of Platform Tech and Senior Vice President at Ant International, explains the vision clearly.

“Our goal is to build a future of instant, borderless money movement. We believe blockchain and AI can unlock real-time solutions for global corporate treasurers. We are glad to work with Amundi to co-develop secure, compliant investment products accessible 24/7 globally.”

Why this collaboration is significant

This is not a pilot programme or a proof of concept. It is a live, operational solution built for a real client with real liquidity management needs.

Fannie Wurtz, Deputy General Manager and Head of Client Group at Amundi, says the project reflects where the industry is heading.

“This collaboration brings together leading institutions committed to innovation and to seizing opportunities emerging in the digital asset space. It also reflects Amundi’s dedication to meeting the evolving needs of sophisticated clients and our ambition to shaping the future of finance.”

Jean-Jacques Barbéris, Deputy CEO of CACEIS, adds that the project demonstrates the industry’s capacity to embrace genuine transformation.

“CACEIS welcomes the cooperation with Ant International and Amundi to develop new investment solutions based on tokenisation and blockchain, demonstrating our capacity to fully embrace the transformation at work in the financial industry at worldwide level.”

The fact that three institutions of this scale have moved from MOU to live product in under a year is itself a signal worth noting.

What comes next for tokenised money market funds

The three parties are now exploring the potential launch of the Amundi Money Market Fund, Short Term, on Whale, Ant International’s internal blockchain-based treasury management platform. The goal is to onboard Amundi funds directly onto the platform and co-develop new money market fund solutions for treasurers globally.

Amundi and Ant International are also exploring expansion into new markets and currencies. The full rollout remains subject to regulatory approvals, but the direction of travel is clear.

Why advisers and asset managers should pay attention

Tokenised money market funds are moving from the margins to the mainstream. When Europe’s largest asset manager launches a live tokenised product for a major institutional client, it signals that the infrastructure is maturing and the use cases are real.

For advisers and asset managers thinking about where digital assets fit in their practice or their clients’ portfolios, this development is worth tracking closely. The question is no longer whether tokenisation will reshape parts of the investment industry. It is how quickly and who moves first.