Franklin Tokenised MMF in Hong Kong
"Franklin Templeton introduces tokenised money market fund in Hong Kong," says a brief in the South China Morning Post. It says, "Digital trading in Hong Kong has taken a step forward with the launch of the city's first Luxembourg-registered tokenised money market fund by US asset manager Franklin Templeton.... The Franklin OnChain US Government Money Fund, which invests in US government securities and was registered in Luxembourg last year, would be available to institutional and professional investors in Hong Kong who had a minimum of HK$8 million (US$1 million) in assets, according to a statement from Franklin Templeton.... Tokenisation allows investors to own blockchain-based digital representations of various assets, including deposits, bonds, stocks, cryptocurrencies and loyalty points." `Tariq Ahmad, head of Asia-Pacific at Franklin Templeton, comments, "This launch reflects our ongoing commitment to delivering innovative investment solutions that address the needs of modern investors by expanding the accessibility of tokenised products in this dynamic market. Looking ahead, we aim to offer a retail-approved tokenised fund, subject to the Securities and Futures Commission's approval, as part of our broader efforts to democratise access to investment solutions and foster a vibrant digital assets ecosystem in the region." The piece adds, "The new fund is the first Luxembourg-registered tokenised UCITS money market fund issued on a blockchain platform developed by Franklin Templeton, providing investors with the opportunity to invest in high-quality, short-term US government securities. UCITS is a regulatory framework that allows for the cross-border sale of mutual funds among European Union member states. Franklin Templeton has been collaborating with HSBC and OSL Group, operator of Hong Kong's first licensed virtual-asset trading platform, to engage in the HKMA's Project Ensemble since 2024."
