Franklin Templeton partners with HashKey to offer tokenized money market fund in Asia

Franklin Templeton has partnered with Hong Kong's HashKey Exchange to distribute its tokenized money market fund, further expanding the global asset manager's presence in Asia.

In a Monday statement, HashKey said it has launched the Franklin OnChain U.S. Government Liquidity Fund on the platform's Earn channel. The product is designed to offer investors access to a tokenized fund that mainly invests in U.S. government money market instruments and U.S. dollar cash assets.

The tokenized fund is only available to professional investors and is not open for the general public in Hong Kong.

"We look forward to deepening this partnership by expanding beyond tokenized money market funds into other tokenized products over time, leveraging HashKey's multi-jurisdictional platform spanning Hong Kong, Singapore, Tokyo, Dubai and Bermuda," said Chetan Karkhanis, Franklin Templeton's SVP of digital assets client engagement.

Franklin Templeton has been making efforts to expand in Asia. In November 2025, it debuted Hong Kong's first tokenized money-market fund, the Franklin OnChain U.S. Government Money Fund. It was the first initiative under the Hong Kong Monetary Authority’s Fintech 2030 plan.

The broader real-world asset (RWA) tokenization market continues to grow. Total RWA value reached $38.2 billion as of Aug. 23, up from $20.6 billion a year ago, according to RWA.xyz data. Among the tokenized assets, U.S. treasury debt accounted for $15.6 billion.