Online reports that BNP Paribas Asset Management (BNPP AM) has issued a native digital share of a money market fund (MMF) on the Allfunds blockchain. Most tokenized funds are based on existing funds, but this time they are creating new native digital shares. The new share was subsequently used in a cross-border transaction with a French counterparty. BNPP AM serves as a transfer agent and transaction service provider, and Allfunds Blockchain serves as a technical partner. The appeal of this solution is that it can increase efficiency and shift from bulk subscriptions and redemptions to real-time transactions on a net worth basis. In addition, after the European Central Bank launches a wholesale DLT settlement plan, it is expected to achieve faster settlement. BNPP AM's move is also exploring the potential of MMF tokenization to attract crypto-native institutional and retail investors.