In October 2025, three major financial institutions will implement a fully tokenized money market fund. Maybank, Marketnode and BNP Paribas have developed a system where fund shares exist exclusively as digital tokens on a public blockchain, allowing transactions to settle in seconds rather than days, broadening access for small investors and facilitating interoperability between different blockchains.
Marketnode’s “Gateway” system is the technological core that enables issuing and tracking these tokens across multiple networks such as Ethereum, Solana, Stellar and the XRP Ledger. Andrew Scott, Marketnode’s Head of Digital Assets, describes the project as “a template for trusted cross‑chain markets in Asia.” This tokenization drastically reduces settlement times from two days to under a minute, transforming the fund’s operational efficiency.
Ivan Won of Maybank highlights that the tokenized format significantly expands the base of potential investors, while BNP Paribas keeps its traditional role as transfer agent, but now with records hosted on a blockchain. Luc Renard, an executive at BNP Paribas, says their involvement aims to drive market evolution, connecting with central bank digital currency (CBDC) trials.
A revolution in investment fund management
This innovation promises to democratize access to investment funds through smaller ticket sizes and 24/7 operation, although it raises new challenges in digital custody and operational risk management. The project aligns with tokenization-friendly policies in Singapore and the Asia-Pacific region, maintaining strict KYC (know your customer) and anti‑money laundering requirements.
The success of this initiative could mark a turning point for tokenized funds, transforming them from experiments into standard institutional tools if it manages to operate efficiently and obtain regulatory approval for movements across different blockchains in programs such as Project Guardian and CBDC trials.
