Crédit Agricole Assurances, the French insurance company, has invested €100 million in tokenized shares of the Amundi Funds Cash EUR money market fund. CACEIS, Credit Agricole’s securities services subsidiary, is the fund’s tokenization and transfer agent.
Crédit Agricole Assurances covers life insurance, property and casualty and other lines, making it a significant institutional investor. Credit Agricole owns 68.3% of listed asset manager Amundi and 100% of CACEIS, so the transaction stays within the group. That said, the investment fits into a broader pattern of Amundi building out its tokenized fund business.
Europe’s largest asset manager, with €2.4 trillion under management, only launched the tokenized share class of Cash EUR in November last year. Since then it has moved quickly.
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