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Franklin Templeton launches tokenized U.S. money market fund in Asia
The Franklin OnChain U.S. Government Liquidity Fund is available only to professional investors via HashKey's Earn channel and focuses on U.S. government money market instruments and U.S. dollar cash assets.
Franklin Templeton has partnered with Hong Kong-based HashKey Exchange to distribute a tokenized money market fund in Asia, expanding the asset manager’s digital-asset push in the region, according to The Block.
HashKey said it launched the Franklin OnChain U.S. Government Liquidity Fund on its platform’s Earn channel. The tokenized product is designed to give Asian investors access to a fund that mainly invests in U.S. government money market instruments and U.S. dollar cash assets.
The Block reported that the tokenized fund is restricted to professional investors and is not open to the general public in Hong Kong. The Block also noted that Franklin Templeton’s prior Hong Kong tokenized money-market effort debuted in November 2025 under the Hong Kong Monetary Authority’s Fintech 2030 plan.
The Block further cited growth in the broader real-world asset tokenization market, saying total RWA value reached $38.2 billion as of Aug. 23, up from $20.6 billion a year earlier, with U.S. treasury debt accounting for $15.6 billion among tokenized assets.