AXA Investment Managers has successfully participated in two blockchain initiatives leveraging Banque de France's tokenized cash, enhancing digital central bank money transactions.

Target Information

AXA Investment Managers (AXA IM) has successfully participated in two significant blockchain initiatives utilizing the Banque de France's tokenized cash solution. These experiments align with the European Central Bank's (ECB) Call for Expression of Interest, launched in December 2023, aimed at exploring new technologies for settling wholesale financial transactions using digital central bank money (CeBM).

The first experiment featured a €3 million investment by AXA IM, on behalf of AXA France, into a digital sovereign bond issued by the Republic of Slovenia. This transaction was processed using BNP Paribas’ Neobonds tokenization platform, integrated within BNP Paribas Global Markets’ infrastructure, achieving a swift settlement period of T+1 through DL3S, the Banque de France’s distributed ledger technology (DLT).

Industry Overview

In the context of France and the broader European landscape, blockchain technology is rapidly evolving and gaining traction across various sectors, especially finance. The advent of digital central bank currencies (CBDCs) is transforming the m