Franklin Templeton has expanded regulated access to its tokenized U.S. government money market fund in Asia through HashKey Exchange. The Hong Kong-licensed platform added grBENJI to its Earn channel on Aug. 24, opening the fund to eligible investors.

According to the announcement, the Franklin OnChain U.S. Government Liquidity Fund invests mainly in U.S. government money market instruments and U.S. dollar cash assets, and access to the fund is delivered through blockchain-based infrastructure. The launch adds another regulated distribution route for a tokenized cash-management product at a time when more traditional asset managers are testing how blockchain rails can be used without changing the underlying portfolio.

Who Can Access Franklin Templeton's Tokenized Fund?

According to HashKey, the product is available only to professional investors in Hong Kong, and it will not be launched through a public offering in the city. The collaboration gives Franklin Templeton an avenue to distribute its tokenized products across Asia, while HashKey adds a money market offering to its Earn platform.

Franklin Templeton Brings Tokenized US Fund To Hong Kong Franklin Templeton has partnered with HashKey Exchange to distribute its tokenized money market fund in Hong Kong. The Franklin OnChain U.S. Government Liquidity Fund is now available through HashKey's Earn channel. The… pic.twitter.com/aEBG6OkJTc — BSCN (@BSCNews) August 25, 2026

What Executives Said

Chetan Karkhanis, SVP of digital assets client engagement, said the listing broadens the firm's capabilities. HashKey caters to digital-first banking platforms, wealth platforms, and established institutional clients, he noted, adding that blockchain could help enhance transparency, security, accessibility, speed, and efficiency. Franklin Templeton views the rollout of the listing as part of its digital assets strategy.

"We are excited to launch our tokenized money market fund on the HashKey Exchange platform," Karkhanis said.

HashKey Exchange BG CEO Haiyang Ru said grBENJI addresses demand-compliant yield generation through tangible assets. The partnership, he said, connects traditional investment products with regulated on-chain technology infrastructure. After the launch, both companies would examine other tokenized assets, and the examination would include financial instruments from outside Hong Kong.

HashKey's Regulated Tokenized Securities Strategy

Franklin Templeton said future work could use HashKey's operations in Hong Kong, Singapore, Tokyo, Dubai, and Bermuda. However, the announcement did not link a new product to any location.

HashKey has prior experience with regulated tokenized securities. In June 2025, HashKey Chain and GF Securities Hong Kong launched GF Token for qualified professional investors. The product accrued interest daily and allowed daily redemptions. It was issued, recorded, and managed through HashKey Chain, with group units supporting distribution and custody. GF Token comprised versions denominated in U.S. dollars, Hong Kong dollars, and offshore renminbi, with the U.S. dollar version based on the Secured Overnight Financing Rate benchmark.

Franklin Templeton Holds $2.5B in Tokenized Treasuries

The grBENJI release forms part of the expansion in the tokenized real-world asset market. RWA.xyz has estimated the value of distributed assets at about $38.2 billion as of Aug. 24, compared with $20.6 billion last year.

Tokenized U.S. Treasury products represented about $15.6 billion of that amount. Franklin Templeton was one of the leading providers of Treasury tokenization platforms monitored by RWA.xyz. The four products on its platform were worth around $2.5 billion, making the company the fourth-largest in the ranking of platforms after Circle, Securitize, and Ondo.

Franklin Templeton managed $1.80 trillion in assets as of July 31, 2026, and operated in more than 35 countries. HashKey holds Hong Kong licenses for securities dealing and automated trading. The exchange does not operate in mainland China, the United States, and some other jurisdictions.