Franklin Templeton Partners with HashKey to Launch Tokenized US Money Fund in Asia
A new tokenized US money fund has been launched in Asia by Franklin Templeton and HashKey, marking a significant step towards mainstream adoption of blockchain-based products. The Franklin OnChain U.S. Government Liquidity Fund (grBENJI) offers professional investors access to US government money market products and dollar cash assets via blockchain tokens.
The partnership between the two companies aims to provide a regulated and secure way for digital asset investors in Asia to gain exposure to low-risk, dollar-denominated instruments with faster settlement times. HashKey's Type 1 and Type 7 licenses issued by Hong Kong's Securities and Futures Commission enable the exchange to legally offer the product to professional investors.
The market for tokenized US Treasury and money market funds has grown rapidly over the past two years, increasing by 1,500% to reach $15 billion in total value. This growth is expected to continue, driven by institutional demand for yield-generating digital assets with regulatory compliance.