BNP Paribas to use Ethereum for MMF tokenization pilot

BNP Paribas, France's second-largest bank, plans to use the Ethereum blockchain for a new money market fund (MMF) tokenization pilot project. According to The Block, the tokenized shares will be issued on-chain through BNP Paribas Asset Management's AssetFoundry platform, utilizing a permissioned model based on Ethereum. This will restrict the holding and transfer of the tokens to eligible participants who comply with relevant regulatory requirements.