- Franklin Templeton and HashKey Exchange have begun offering tokenized money market funds in Asia.
- HashKey has started offering the Franklin OnChain U.S. Government Liquidity Fund through its Earn service.
- The total real-world asset (RWA) tokenization market grew about 85% from a year earlier to $38.2 billion.
Forecast Trend Report by Period
Franklin Templeton has teamed up with Hong Kong virtual-asset exchange HashKey Exchange to offer a tokenized money market fund in Asia.
HashKey has begun offering Franklin Templeton’s Franklin OnChain U.S. Government Liquidity Fund through its Earn service, The Block reported on August 25.
The product tokenizes a fund that primarily invests in U.S. government money market instruments and U.S. dollar cash-equivalent assets on blockchain. In Hong Kong, it is available only to professional investors, not retail clients.
Chetan Karkhanis, senior vice president of digital assets client business at Franklin Templeton, said he expects the partnership to expand beyond tokenized money market funds into other tokenized products. Franklin Templeton will use HashKey’s platform presence across Hong Kong, Singapore, Tokyo, Dubai and Bermuda, he added.
Franklin Templeton also launched Hong Kong’s first tokenized money market fund in November last year, the Franklin OnChain U.S. Government Money Fund. At the time, the product was the first project under the Hong Kong Monetary Authority’s Fintech 2030 plan.
The market for tokenized real-world assets is also expanding. Total RWA tokenization reached $38.2 billion as of August 23, up about 85% from $20.6 billion a year earlier, according to RWA.xyz. Tokenized U.S. Treasuries accounted for $15.6 billion of that total.