Franklin Templeton and HashKey Exchange Launch Tokenized Money Market Fund in Asia

Franklin Templeton and HashKey Exchange are teaming up to offer tokenized money market funds in Asia. The Franklin OnChain U.S. Government Liquidity Fund, a fund that primarily invests in U.S. government money market instruments and U.S. dollar cash-equivalent assets on blockchain, is now available through HashKey's Earn service. This product is only available to professional investors in Hong Kong, not retail clients.

The partnership between Franklin Templeton and HashKey Exchange aims to expand beyond tokenized money market funds into other tokenized products. Chetan Karkhanis, senior vice president of digital assets client business at Franklin Templeton, stated that the company will use HashKey's platform presence across Hong Kong, Singapore, Tokyo, Dubai, and Bermuda.

The total real-world asset (RWA) tokenization market grew by about 85% from a year earlier to $38.2 billion as of August 23. Tokenized U.S. Treasuries accounted for $15.6 billion of that total.