AXA: two blockchain experiments at AXA IM

(CercleFinance.com) - AXA IM, the AXA Group's asset management subsidiary, announced on Tuesday that it had taken part in two initiatives aimed at testing 'blockchain' technology as part of the ECB's exploratory work.


In a press release, AXA Investment Managers explains that these two experiments are part of the call for applications launched at the end of 2023 by the European Central Bank (ECB) to test new technologies for settling wholesale financial transactions in digital central money (CeBM).

The tests in which AXA IM participated were based on the 'blockchain' infrastructure using the tokenized money solution of the Banque de France (BdF).

The first experiment involved an investment of three million euros by AXA IM, on behalf of AXA France, in a digital sovereign bond issued by the Republic of Slovenia.

The transaction was executed on 'Neobonds', the tokenization platform of BNP Paribasand using digital central currency.

The second experiment took the form of a subscription of fund units of one million euros from Generali to AXA with an instant settlement process using digital CeBM.

For AXA IM, the success of these two operations is a further signal that blockchain technology is 'well on the way to reaching the level of maturity and security required' to optimize the current operation of financial markets, notably by speeding up transaction processing.

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