Franklin Templeton Drops $410M Tokenized Money Fund in Hong Kong – TradFi Meets DeFi

Wall Street's quiet crypto invasion just got louder. Franklin Templeton—the $1.5T asset manager—just parked a $410M tokenized U.S. money market fund in Hong Kong. Because nothing says 'financial revolution' like repackaging T-bills on-chain.

Why Hong Kong? The city's playing nice with crypto—for now. Regulators greenlit the fund, betting blockchain can juice yields for institutional players. Spoiler: They're probably right.

The fine print? It's a closed-loop system. Only 'professional investors' (read: whales) can play. Your grandma's savings account? Still stuck in 2008-era banking.

Funny how TradFi only embraces decentralization when it means cheaper settlement. Next up: BlackRock tokenizes municipal bonds... with 0.75% fees.

— Cointelegraph (@Cointelegraph) November 6, 2025

According to the firm’s announcement, the tokenized money market fund invests primarily in U.S. government securities and was registered in Luxembourg in 2024. It is currently open to institutional and professional investors in Hong Kong with.

Expansion of Franklin’s U.S. Tokenized Fund

The Hong Kong launch extends Franklin Templeton’s earlier, which debuted in 2021 as the first publicly registered U.S. money market fund operating on a public blockchain.

As of November 2025,in assets, making it, following.

The new Hong Kong fund operates on the ethereum blockchain, utilizing smart contracts for transparency and automation. Each share is represented as a “BENJI” token, which investors can manage through the Benji Investments mobile app.

The platform supports, and now features, allowing near-instant liquidity management.

Eyeing Retail Access and Regional Growth

Franklin Templeton’s Head of Asia-Pacific,, said the launch reflects the firm’sin Asia.

“This initiative demonstrates our continued commitment to delivering innovative investment solutions that meet the needs of modern investors in this vibrant market,” Ahmad stated.

Pending regulatory approval from the, Franklin Templeton plans to, a MOVE seen as a key step in.

At the, Franklin Templeton CEOnoted that “demand for tokenized investment products is growing rapidly across multiple jurisdictions.”

HKMA Chief Executivedescribed the launch as the, positioning the city as a.

Hong Kong Quietly Taking the Lead

Industry analysts highlight that while U.S. regulators remain cautious on tokenized funds, Hong Kong has quietly taken the lead in developing a compliant framework for.

Data suggests thatwithin the broader crypto sector, signaling that.

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