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BNP Paribas AM chief rules out crypto push but backs tokenisation
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BNP Paribas Asset Management, one of Europe's largest fund management groups, has ruled out joining rivals pushing into crytpocurrencies, saying there is a lack of demand among its clients for exposure.
Instead, the €500bn asset management arm of the Paris-headquartered bank is focused on using digital technology, including blockchain, to offer tokenised products — where shares or units are digitally represented and can be traded and recorded on a distributed ledger.
"We...
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