Tokenised Assets

By combining our asset management expertise, fund servicing capabilities and blockchain innovation, we are delivering a new generation of tokenised investment products built for evolving institutional needs.

Tokenised Assets

Our tokenisation offering aims to combine greater transparency, faster settlement, operational efficiency and enhanced accessibility; all within a robust, regulated framework.

Our tokenisation strategy is designed around a blended on-chain and off-chain model, combining the strengths of existing fund structures with the opportunities of blockchain technology.

Tokenisation in a maturing market landscape

Tokenised Assets: Market landscape

Tokenisation in a maturing market landscape

Built on strong market foundations, the digital asset ecosystem is becoming increasingly supportive of tokenised investment products. 

 

This evolution is being driven by:

  • clearer regulatory pathways,

  • more mature blockchain infrastructure,

  • stronger interoperability,

  • growing institutional adoption,

  • and rising demand for instant liquidity and digital access. 

Why tokenisation now?

Regulation

Greater regulatory clarity is creating more defined pathways for digital asset issuance, including cash-like products.

Maturity

Blockchain infrastructure is maturing, with improved interoperability and more reliable operational workflows.

Adoption

Institutional adoption of digital assets is expanding across the investment landscape.

Liquidity

Demand continues to grow for instant liquidity and more efficient investment processes.

The benefits of tokenised funds

All share records are accessible on-chain, offering a high level of visibility and traceability for investors and market participants.

Blockchain enables continuous data streaming and real-time access to fund-related information.

Tokenisation streamlines the mechanics of holding, trading and settling fund shares and cash.

On-chain settlement can reduce friction, accelerate execution and pave the way for more automated, programmable investment features.

(to be released)

Source: CACEIS. Views are those of Amundi as of February 2026 and are subject to change. 

A regulated, hybrid model built for scale

We combine traditional fund structures with on‑chain capabilities to deliver the benefits of tokenisation within a fully regulated framework.

 

Our hybrid model maintains the governance, compliance and operational standards expected of institutional investors, while enabling faster settlement and enhanced transparency, as well as new servicing models.

A regulated, hybrid model built for scale

Tokenised Assets: an hybrid model

A strong partnership with CACEIS

Tokenised Assets: A strong partnership with CACEIS

A strong partnership with CACEIS

Our offering is supported by the combined expertise of Amundi and CACEIS.

Together, we bring:

  • Deep asset management expertise

  • Secure digital asset custody solutions

  • Blockchain-based fund distribution capabilities
     

This partnership strengthens our ability to deliver innovative solutions at scale.

Working with you on tokenised assets

Tokenised assets are opening new possibilities. We work alongside you to transform bold ideas into solutions. From concept to implementation, we support you with scalable and accessible tokenised solutions for today’s evolving markets.

Case #1

Case #2

Launch of a tokenised money market fund share class for CACEIS as an investor
 

Client profileCACEIS, A leading asset servicing group
Client challengeTest tokenisation technology and assess the operational changes required for a tokenised fund share class
Our approachWe tokenised a share class of AMUNDI FUNDS CASH EUR, initially available only to CACEIS and implemented for CACEIS’ own account as a proof of concept
OutcomesA successful proof of concept, laying the foundations for potential future tokenised share class development

Launch of a tokenised overnight liquidity solution
 

Client profileA French-regulated digital asset platform serving corporates and financial institutions
Client challengeImprove treasury and collateral management
Our approachWe partnered to launch a tokenised overnight liquidity solution fund combining overnight liquidity, 24/7 transferability and blockchain-enabled operational efficiency
OutcomesA cash-equivalent investment solution designed to improve liquidity management and operational efficiency

Learn more about tokenised investment funds

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Frequently Asked Questions
Have questions? We’re here to help

Investors want to understand whether tokenisation delivers tangible benefits or simply adds a digital layer to an existing structure. Its potential advantages include greater operational efficiency, faster settlement, improved transferability, fractional access, and wider distribution.

Custody is a core concern in digital assets and tokenised funds. Investors want to understand where the legal ownership sits, who holds the wallet or private keys, and what protections exist against loss, theft, or unauthorized transfer. Institutional comfort usually depends on qualified custody, segregation of assets, strong governance, and backup procedures.

Not necessarily. Tokenisation can make transfer technically easier, but it does not guarantee liquidity. Real liquidity depends on market demand, investor base, regulatory permissions, trading venue availability, and redemption terms. Investors want to know whether the token can actually trade in a meaningful way, or whether it is simply a digital wrapper around an otherwise illiquid asset.

The main risks usually fall into three areas:

  • Operational risk: dependencies on new technology, integration with existing fund administration, custody, and reporting systems, and the possibility of errors in subscriptions, redemptions, transfers, or reconciliations.
     
  • Cyber risk: exposure to hacking, key compromise, smart contract vulnerabilities, platform outages, and unauthorized transactions.
     
  • Governance risk: unclear accountability between the fund manager, administrator, custodian, and technology provider; weak controls over smart contract upgrades; and uncertainty about what happens if there is a dispute or service-provider failure.