Franklin Templeton launches dollar-denominated tokenized money market fund in Hong Kong
Summary
- Franklin Templeton said it launched a blockchain-based dollar money market fund in Hong Kong.
- The fund invests in short-term U.S. Treasury securities and the fund shares are issued in token form.
- Franklin Templeton said the launch is part of its strategy to expand tokenized finance in the Asian market.
U.S. asset manager Franklin Templeton (Franklin Templeton) has unveiled a blockchain-based dollar money market fund for institutional investors in Hong Kong. It is part of a strategy to expand tokenized finance in the Asian market.
On the 6th (local time), CoinDesk reported that Franklin Templeton said it launched the tokenized money market fund 'Franklin OnChain U.S. Government Money Fund' in Hong Kong.
The fund invests in short-term U.S. Treasury securities, and the fund shares are issued in token form. Franklin Templeton said, "Through a blockchain-based structure, we expect improved transaction speed, increased transparency, and cost reductions."
With this launch, Franklin Templeton is participating in the Hong Kong Monetary Authority (HKMA)'s tokenized finance experiment project 'Project Ensemble' and will also contribute to strengthening Hong Kong's institutional digital asset ecosystem. Tariq Ahmad, head of Asia-Pacific (APAC), said, "This launch is an example of our commitment to expanding tokenized investment products in Asia."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
