Franklin Templeton and HashKey Team Up for Tokenized US Government Liquidity Fund

Hong Kong-based HashKey Exchange has partnered with Franklin Templeton to offer a tokenized money market fund to professional investors in Asia. The fund, called the Franklin OnChain U.S. Government Liquidity Fund, is restricted to professionals and not open to the general public.

The fund primarily holds US government money market instruments and US dollar cash assets, with a blockchain-based tokenization system representing ownership of those instruments on-chain.

This partnership marks Franklin Templeton's second move in the Hong Kong market, following the launch of its Franklin OnChain U.S. Government Money Fund in November 2025, which became Hong Kong's first tokenized money market fund and a key product under the Hong Kong Monetary Authority's Fintech 2030 plan.

Chetan Karkhanis, Franklin Templeton's SVP of digital assets client engagement, said that the company intends to expand its partnership with HashKey beyond money market funds into other tokenized products, citing HashKey's presence across several Asian and international markets as a key factor in this strategy.