BNP Paribas Pilots Tokenized Money Market Fund on Ethereum and Advances Qivalis Stablecoin for 2026

On 20 February 2026, BNP Paribas launched a pilot that tokenizes a share class of a French money market fund on the public Ethereum network using the ERC-3643 standard and a permissioned, regulated framework. The bank is also spearheading Qivalis, a euro-pegged stablecoin backed by a consortium of 12 European banks, which aims for a commercial rollout in the second half of 2026. Together these initiatives indicate a wider move toward on-chain finance focused on institutional payments and compliant access to blockchain infrastructure.