Axa IM Prime, a division of the global asset manager recently acquired by BNP Paribas SA, has been ramping up its investments in Asia-based hedge fund managers over the last five years. This strategic move coincides with a retreat by US institutions, which has left the regional hedge fund industry struggling for fresh capital. The shift highlights Axa IM Prime’s confidence in Asia’s growth potential and its ability to capitalize on opportunities where others have pulled back.
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2 in Finance and 0 in Crypto last week
BNP Economist on Euro Rate Risks & ECB Cuts
In a Bloomberg Television interview, BNP Paribas Chief Economist Isabelle Mateos y Lago addressed the euro’s exchange rate stability, noting that extreme volatility could pose problems but current levels remain manageable. She also discussed the European Central Bank’s (ECB) rate-cutting trajectory, predicting one additional cut by year-end, though timing remains uncertain. Mateos y Lago emphasized a data-dependent approach, suggesting policymakers will weigh economic indicators before acting. Her comments reflect broader market expectations of gradual easing amid persistent inflation and growth concerns in the eurozone.
read moreGermany’s Sparkassen to Offer Crypto Trading by 2026
Germany’s Sparkassen-Finanzgruppe, a network of over 370 savings banks, plans to roll out crypto trading services for its 50 million+ clients by 2026. The initiative, facilitated by DekaBank, will allow users to buy and sell Bitcoin and Ethereum directly through Sparkasse’s mobile apps. The decision reflects growing retail demand and compliance with the EU’s MiCA regulations. While the German Savings Banks Association warns of crypto’s speculative nature, the move positions Sparkassen ahead of traditional banks like BNP Paribas. The rollout follows earlier resistance to crypto, including transaction blocks in 2015 due to volatility concerns. Other German banks, such as DZ Bank and Landesbank Baden-Württemberg, are also expanding into crypto services.
read moreWall Street Giants Invest $135M in Canton Network for RWA Tokenization
Digital Asset has raised $135 million to bolster its Canton Network, a platform aimed at facilitating the tokenization of real-world assets (RWAs). The funding round, led by DRW Venture Capital and Tradeweb, included high-profile investors such as Goldman Sachs, Citadel Securities, BNP Paribas, and the Depository Trust & Clearing Corporation (DTCC). This significant investment underscores Wall Street’s growing interest in blockchain-based solutions for asset tokenization, which could revolutionize traditional finance by improving liquidity, transparency, and efficiency in asset markets.
read moreDigital Asset Secures $135M to Scale Canton Network
Digital Asset, a blockchain infrastructure provider, has secured $135 million in a funding round led by DRW Venture Capital and Tradeweb Markets, with participation from Goldman Sachs, Citadel Securities, BNP Paribas, and others. The investment aims to scale the Canton Network, a blockchain platform designed for institutional and decentralized finance (DeFi), and advance the tokenization of real-world assets. The funding highlights growing institutional interest in blockchain solutions for financial markets, with backing from both traditional finance giants and crypto-focused investors like Paxos and Polychain Capital.
read moreBNP Paribas Launches Blockchain-Based Money Market Fund
BNP Paribas Asset Management (BNPP AM) has launched a blockchain-native money market fund, enabling near-instant order execution and real-time transaction visibility. Unlike traditional tokenized assets, this fund was designed from the ground up to operate entirely on distributed ledger technology (DLT), bypassing legacy infrastructure delays. The fund, domiciled in Luxembourg, facilitates cross-border transactions seamlessly, with BNP Paribas Securities Services acting as the transfer agent. This move aligns with a broader trend among major banks, including JPMorgan Chase and Standard Chartered, which are also exploring blockchain and stablecoin solutions for institutional finance. The initiative underscores the banking sector’s push toward transparency, efficiency, and interoperability in digital asset management.
read moreGoldman Sachs Predicts Yuan Rise Against Dollar in 2024
Goldman Sachs predicts the onshore Chinese yuan (CNY) will rise to 7.0 per USD from the current 7.2 over the next 12 months, citing undervaluation and potential tariff reductions as catalysts. BNP Paribas Asset Management also expects CNY gains, especially if China’s GDP growth exceeds 5%. The yuan has already appreciated 1.24% against the dollar in the past month. Analysts highlight that a weaker dollar and stronger Chinese economic performance could further boost the CNY. China uses separate onshore (CNY) and offshore (CNH) yuan for domestic and international transactions, respectively.
read moreChainlink Expands Utility Beyond Web3 with 77+ Use Cases
Chainlink is rapidly expanding its decentralized oracle network beyond Web3, with over 77 documented use cases across industries like capital markets, NFTs, and supply chain. A key development is its integration with SWIFT via the Cross-Chain Interoperability Protocol (CCIP), allowing institutions like BNY Mellon and Citi to transfer tokenized assets across blockchains without backend overhauls. Chainlink’s node network aggregates external data for smart contracts, enabling functions like asset tokenization and automated settlements. The platform also addresses payment challenges by connecting smart contracts to traditional banking systems and introducing payment abstraction to convert fees to LINK automatically. These innovations position Chainlink as critical infrastructure bridging decentralized and traditional finance.
read moreStock Markets Mixed as U.S. Indexes Drift, Bond Yields Rise
U.S. stock indexes closed mixed, with the S&P 500 falling slightly and the Dow Jones edging up. Equifax and Las Vegas Sands saw losses, while Elevance Health and Genuine Parts gained. The bond market’s rising yields are pressuring stocks, as investors adjust to the possibility of fewer interest rate cuts by the Federal Reserve. Strong economic data and higher-than-expected inflation have led to expectations of only one or two rate cuts this year.
read moreThe Rise of Fintechs and the Battle for Compliance Talent
The rise of Fintech companies has intensified the competition for compliance talent in the banking sector, leading to a global shortage of qualified professionals. Traditional banks are facing challenges in recruiting and retaining compliance experts, as Fintechs offer competitive salaries and leverage technology to disrupt the industry. To address this, a shift towards hiring hybrid talents with regulatory knowledge and data science skills is crucial for the successful digital transformation of compliance functions.
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