The asset management division of French banking group BNP Paribas conducted a pilot on Ethereum to explore the tokenization of financial instruments using a public blockchain.
This initiative involves issuing tokenized shares of the BNP Paribas Asset Management money market fund through the AssetFoundry platform. The digital assets are issued under a limited access model, ensuring that only authorized participants can own and transfer the tokens.
“This approach allows BNP Paribas and BNP Paribas Asset Management to assess how public networks can be integrated into regulated fund structures while maintaining the highest standards of governance, investor protection, and operational reliability,” the statement said.
The project follows the asset manager's launch of a similar digital product on a private blockchain in Luxembourg.
“Together, these initiatives reflect BNP Paribas's approach to exploring various tokenization and distribution models to better serve fund managers and their investors,” the company noted.
XRP Ledger Used for Real Estate Tokenization in Dubai
The Dubai Land Department is launching the next phase of its real estate tokenization pilot project, which includes implementing controlled secondary trading capabilities for assets.
During the first phase of the experiment, properties worth over $5 million were converted into digital shares. The assets are available on the market in the form of approximately 7.8 million tokens.
The government agency has partnered with Ctrl Alt, a licensed virtual asset service provider in Dubai. All blockchain transactions will be conducted on the XRP Ledger and secured by Ripple Custody.
“The secondary trading phase is designed to assess market efficiency and operational readiness, as well as to enhance transparency, governance, and investor protection,” the statement said.
According to RWA.xyz, the market for tokenized assets is approximately $25 billion, with Ethereum dominating at $14.9 billion. The XRP Ledger accounts for about $460 million.
Notably, Aave founder Stani Kulechov predicted that the RWA segment could grow to $50 trillion due to the tokenization of "abundant assets" like renewable energy.