Franklin Templeton Brings Tokenized Money Market Fund to HashKey Exchange

Franklin Templeton has partnered with HashKey Exchange to bring its tokenized money market fund, grBENJI, to Hong Kong's institutional investors. The fund invests in U.S. government money market instruments and dollar cash assets, offering returns that track short-term Treasury yields.

The product is available exclusively to professional investors through HashKey's Earn channel, with no public offering in Hong Kong. Franklin Templeton manages $1.8 trillion in assets and has been operating a tokenized version of the fund since 2021.

According to RWA.xyz, the BENJI token yields around 3.6% over seven and 30 days at a net asset value of $1.00. The fund's size varies depending on whether a single token or the whole suite is counted, with just over 1,100 holders.

HashKey Exchange BG CEO Haiyang Ru stated that the listing addresses institutional demand for compliant real-world asset yield. Franklin Templeton's senior vice president for digital assets client engagement, Chetan Karkhanis, expressed plans to expand beyond tokenized money market funds into other tokenized products using HashKey's platform.

Franklin Templeton has also entered a strategic collaboration with Payward, the parent of crypto exchange Kraken, covering tokenized equities, custody, and actively managed yield products. The firm has taken BENJI to BNB Chain following a tie-up with Binance and struck deals with DigiFT in May and MoonPay Trade in June.