Franklin Templeton Launches Hong Kong’s First Tokenized Money Market Fund

Franklin Templeton has launched the Franklin OnChain U.S. Government Money Fund, tokenized as 'gBENJI' shares on a blockchain, marking Hong Kong's first such fund and the initial project under the Hong Kong Monetary Authority's (HKMA) Fintech 2030 strategy. The fund, which invests in U.S. government securities, currently targets institutional investors requiring at least HK$8 million, but a retail version is planned. The launch involved partnerships with HSBC for tokenized deposit settlements, enabling near 24/7 transaction processing, and OSL Wealth Management as the distribution partner. This initiative aligns with the HKMA's 'DART' strategy, specifically its focus on the Tokenization of Finance pillar, aiming to accelerate real-world asset tokenization. Franklin Templeton leverages its proprietary Benji Technology Platform, building on its prior experience launching tokenized funds globally, positioning Hong Kong as a trusted hub for digital assets amidst a projected multi-trillion-dollar tokenization market.

(Source：Brave New Coin)