Franklin Templeton and HashKey launch tokenized U.S. government money market fund in Asia
Franklin Templeton and HashKey bring tokenized money market fund to Asia
Franklin Templeton, a global asset manager, has partnered with Hong Kong-based HashKey Exchange to offer a tokenized money market fund in Asia. The fund, called the Franklin OnChain U.S. Government Liquidity Fund, invests mainly in U.S. government money market instruments and U.S. dollar cash assets.
The fund is now available on HashKey’s Earn channel but is limited to professional investors. It is not open to the general public in Hong Kong.
Key details of the partnership
- The fund is tokenized, meaning it uses blockchain technology to represent ownership digitally.
- It invests in U.S. government securities and cash assets.
- Only professional investors in Asia can access the fund through HashKey’s platform.
- Franklin Templeton aims to expand into other tokenized products in the future.
What the official announcement says
In a statement, HashKey confirmed the launch of the Franklin OnChain U.S. Government Liquidity Fund. The company said the product is designed to give Asian investors access to a tokenized fund that focuses on U.S. government-backed assets.
Chetan Karkhanis, Franklin Templeton’s Senior Vice President of digital assets client engagement, said the partnership may expand beyond money market funds to include other tokenized products. HashKey’s platform operates in multiple jurisdictions, including Hong Kong, Singapore, Tokyo, Dubai, and Bermuda.
Franklin Templeton’s growing presence in Asia
This is not Franklin Templeton’s first tokenized fund in the region. In November 2025, the company launched Hong Kong’s first tokenized money market fund, the Franklin OnChain U.S. Government Money Fund. That fund was part of the Hong Kong Monetary Authority’s Fintech 2030 plan, which aims to modernize the city’s financial technology.
What is confirmed about the fund
- The fund is called the Franklin OnChain U.S. Government Liquidity Fund.
- It is available only to professional investors through HashKey’s Earn channel.
- It invests in U.S. government money market instruments and cash assets.
- The partnership was officially announced on August 25, 2026.
What is still unclear
- The exact size or performance of the fund has not been disclosed.
- It is not clear when or if the fund will open to retail investors.
- No details were provided about the specific blockchain used for tokenization.
Why this matters for investors
The launch of this fund shows growing interest in tokenized real-world assets (RWAs). Tokenized assets use blockchain to represent traditional investments like stocks, bonds, or funds. This can make trading and ownership more efficient.
The broader RWA market has grown significantly. According to data from RWA.xyz, the total value of tokenized real-world assets reached $38.2 billion as of August 23, 2026, up from $20.6 billion a year earlier. U.S. treasury debt alone accounts for $15.6 billion of that total.
