
Global asset manager introduces a blockchain-based short-term treasury vehicle for professional investors in Hong Kong as city uplifts fintech infrastructure
Franklin Templeton has introduced what is described as Hong Kong’s first fully tokenised money-market fund for professional investors, marking a significant step for the city’s fintech ambitions and token-economy build-out.
The fund—known as Franklin OnChain U.S. Government Money Fund—invests in short-term U.S. Treasuries and utilises blockchain tokens registered in Luxembourg for ownership records.
The initiative aligns with the Hong Kong Monetary Authority’s FinTech 2030 strategy, which includes more than forty measures to support tokenisation, digital-asset infrastructure and artificial-intelligence integration.
Franklin Templeton’s entry into Hong Kong follows earlier landmarks such as Singapore’s approval of its retail tokenised fund and Luxembourg’s tokenised UCITS vehicle.
The fund leverages Franklin Templeton’s proprietary Benji Technology Platform, which enables features such as intraday yield distribution and continuous, wallet-to-wallet transfers of tokenised shares.
In its June 2025 announcement the firm highlighted that such tokenised money-market funds can offer greater utility and quicker settlement than traditional structures.
Despite the ambitions, observers note that while the product is tokenised, its current availability is limited to professional investors and it remains to be seen how Hong Kong retail rollout will proceed.
The city’s regulator, the Securities and Futures Commission (SFC), has published guidance on tokenised investment products but secondary trading and full retail access are still evolving.
The fund’s launch underscores Hong Kong’s efforts to position itself as a hub for real-world-asset tokenisation and digital finance.
At the same time, Beijing’s wider caution over cross-border tokenisation and real-world-asset flows means the regulatory environment remains attentive.
Industry participants say that success will depend on adoption by institutional investors, alignment with settlement infrastructure and clarity of regulation.
For now, the fund represents a bold step in blending traditional cash-management instruments with blockchain rails, and signals that global asset managers view Hong Kong as a strategic frontier for tokenised fund innovation.
The fund—known as Franklin OnChain U.S. Government Money Fund—invests in short-term U.S. Treasuries and utilises blockchain tokens registered in Luxembourg for ownership records.
The initiative aligns with the Hong Kong Monetary Authority’s FinTech 2030 strategy, which includes more than forty measures to support tokenisation, digital-asset infrastructure and artificial-intelligence integration.
Franklin Templeton’s entry into Hong Kong follows earlier landmarks such as Singapore’s approval of its retail tokenised fund and Luxembourg’s tokenised UCITS vehicle.
The fund leverages Franklin Templeton’s proprietary Benji Technology Platform, which enables features such as intraday yield distribution and continuous, wallet-to-wallet transfers of tokenised shares.
In its June 2025 announcement the firm highlighted that such tokenised money-market funds can offer greater utility and quicker settlement than traditional structures.
Despite the ambitions, observers note that while the product is tokenised, its current availability is limited to professional investors and it remains to be seen how Hong Kong retail rollout will proceed.
The city’s regulator, the Securities and Futures Commission (SFC), has published guidance on tokenised investment products but secondary trading and full retail access are still evolving.
The fund’s launch underscores Hong Kong’s efforts to position itself as a hub for real-world-asset tokenisation and digital finance.
At the same time, Beijing’s wider caution over cross-border tokenisation and real-world-asset flows means the regulatory environment remains attentive.
Industry participants say that success will depend on adoption by institutional investors, alignment with settlement infrastructure and clarity of regulation.
For now, the fund represents a bold step in blending traditional cash-management instruments with blockchain rails, and signals that global asset managers view Hong Kong as a strategic frontier for tokenised fund innovation.







































