Franklin Templeton launched a US dollar-denominated tokenized money market fund in Hong Kong, open to professional investors.

Global asset management giant Franklin Templeton announced the launch of the US dollar-denominated tokenized money market fund, the Franklin OnChain U.S. Government Money Fund, in Hong Kong, open to professional and institutional investors. Utilizing Franklin Templeton's proprietary blockchain ledger system, the fund is the first asset management product in Hong Kong to achieve a fully on-chain process for issuance, distribution, and service. Registered in Luxembourg, the fund aims to achieve returns and capital preservation through investments in short-term US Treasury bonds. Tariq Ahmad, Head of Asia Pacific at Franklin Templeton, stated that the company plans to launch a tokenized fund for retail investors after obtaining approval from the Hong Kong Securities and Futures Commission (SFC). Brian Chen, Head of OSL Wealth Management, stated that Hong Kong is becoming a trusted digital asset hub for global institutions. This launch follows the first tokenized fund launched by ChinaAMC HKD Digital Money Market Fund in February this year, further advancing Hong Kong's institutional exploration in the field of tokenized assets (RWA). (Cointelegraph)