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Competitive Tokenization Event Gathers Prominent Asset Managers AXA, Union, and SocGen

Contests of digital token creation will involve eight teams in the Societe Generale Forge hackathon. Union Investment is set to join in, while AXA serves as one of the judges.

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Competition involving AXA, Union, and SocGen, focusing on hackathon for tokenization of assets
Competition involving AXA, Union, and SocGen, focusing on hackathon for tokenization of assets

Competitive Tokenization Event Gathers Prominent Asset Managers AXA, Union, and SocGen

Union Investment and AXA Investment Managers Join Société Générale Forge's CAST Challenge Hackathon

The asset management industry is making significant strides in the adoption of blockchain technology and tokenization, with a focus on enhancing efficiency, transparency, and liquidity. One of the latest developments in this space is the participation of major asset managers like Union Investment and AXA Investment Managers in Société Générale Forge's CAST Challenge Hackathon.

Overview of Société Générale Forge's CAST Challenge Hackathon

Société Générale Forge, the bank's dedicated blockchain and digital asset issuance subsidiary, organized the CAST Challenge Hackathon to co-create blockchain-based solutions for the asset management industry. The event brought together financial institutions, technology providers, and industry experts to prototype and test use cases around tokenization, smart contracts, and blockchain-enabled asset servicing.

Union Investment and AXA Investment Managers’ Participation

Union Investment, one of Germany’s largest asset managers, is actively investigating tokenized asset management models that offer greater accessibility and efficiency, particularly for private assets and alternatives. AXA Investment Managers, a global leader in asset management with a strong interest in digital transformation and ESG investing, is exploring how blockchain can enhance transparency and automation in fund administration.

Both firms joined the CAST Challenge as strategic participants, aiming to collaborate on building practical tokenization frameworks and integrating blockchain-based processes into existing asset servicing infrastructures.

Key Focus Areas and Outcomes:

  1. Tokenized Funds and Private Market Access The hackathon projects centred on tokenizing investment funds and private market assets, facilitating fractional ownership and real-time settlement features that capitalize on blockchain’s immutable ledger.
  2. Interoperability and Compliance Participants worked on frameworks ensuring regulatory compliance (KYC/AML), investor rights management via smart contracts, and interoperability between traditional asset management systems and blockchain platforms.
  3. Enhanced Investor Experience Solutions developed sought to streamline investor onboarding, reporting, and lifecycle management on a digital ledger, reducing operational burdens and increasing investor transparency.
  4. Partnership and Ecosystem Building The event also strengthened ecosystem collaboration between banks, asset managers, fintechs, and technology providers, accelerating practical pilot projects beyond the hackathon.

Broader Industry Context

Other major asset managers like Amundi, BNP Paribas Asset Management, and Invesco are similarly advancing tokenization pilots. Blockchain deployment is gradually moving from exploratory PoCs to regulated pilots involving real assets, with a focus on liquidity improvement and cost reduction.

Summary

Union Investment and AXA Investment Managers’ participation in Société Générale Forge’s CAST Challenge Hackathon reflects the industry's deepening commitment to blockchain and tokenization. By collaborating on blockchain-based fund tokenization, compliance, and automation solutions, these asset managers are helping to shape the future of digital asset management, aiming for more efficient, transparent, and accessible investment products.

The CAST Challenge Hackathon also included participation from startups like Obligate (formerly FQX), a Swiss firm helping companies issue bonds and commercial paper on blockchain. Big French asset manager AXA Investment Managers (AUM €842 billion) was involved in the event as a judge. Other asset managers like Schroders have also been involved in trials for using public blockchain for fund tokenization with Calastone and have invested in digital bond issuances, including the third European Investment Bank (EIB) digital bond and the Siemens digital bond.

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