HashKey brings Franklin Templeton's $720M tokenized fund to Asian investors

What's the deal? HashKey ExchangeDealroom has a profile for this one. Try Dealroom → has partnered with Franklin TempletonDealroom has a profile for this one. Try Dealroom → to distribute the asset manager's tokenized US government liquidity fund to professional investors in Asia. The product, grBENJI, launched on August 24 through HashKey's Earn Channel.

What's inside the fund? The Franklin OnChain US Government Money Fund holds at least 99.5% US government securities, cash, and fully collateralised repurchase agreements. Its net assets stood at about $720.93 million as of July 31, 2026.

How it works: Rather than offering exposure to volatile cryptocurrencies, the fund connects blockchain infrastructure to traditional money market assets. BENJI tokens represent fund shares, with blockchain used to record ownership and process transactions.

Franklin Templeton's transfer agent maintains the shareholder register. Launched in 2021, the fund was the first US-registered mutual fund to record transactions on a public blockchain.

Who can access it? The product is not offered to the Hong Kong public and may only be purchased by qualified investors under the relevant framework. HashKey holds a Hong Kong licence.

What's next? The two firms are considering other money market fund products to tokenize. Franklin Templeton said the relationship could grow beyond the equity asset class as HashKey builds out its platforms across multiple jurisdictions.

The signal: The launch reflects the growing role of tokenized financial assets in crypto, as traditional funds migrate to blockchain rails to serve digital-native investors seeking on-chain yield without volatile assets.

Read more: cryptoninjas.net

Image credit: Ray Devlin