HashKey and Franklin Templeton Bring Tokenized U.S. Government Fund to Asian Investors

Highlights:

• HashKey and Franklin Templeton are bringing a tokenized U.S. government fund to professional investors across Asia.
• The grBENJI fund mainly holds U.S. government money market instruments and U.S. dollar cash assets.
• Both companies plan to expand their tokenized investment offerings, but access currently remains limited to professional investors.

HashKey Exchange has partnered with Franklin Templeton to offer the asset manager’s tokenized U.S. government money market fund to eligible digital asset investors in Asia. The product, Franklin OnChain U.S. Government Liquidity Fund, known as grBENJI, is now available through HashKey Exchange’s Earn channel.

HashKey Holdings announced the collaboration on August 25. The fund launched on HashKey’s Earn channel a day earlier, on August 24. It mainly invests in U.S. government money market instruments and U.S. dollar cash assets while using blockchain-based infrastructure.

HashKey Expands Access to Tokenized Real-World Assets

The partnership gives professional investors another way to access traditional financial assets through a regulated digital asset platform. Tokenization allows an investment product to be represented and managed using blockchain technology while the underlying fund continues to hold traditional assets.

For HashKey, the addition expands its Earn offering by bringing a regulated real-world asset product onto the platform. Franklin Templeton, meanwhile, gains another distribution route for its tokenized investment products in Asian digital asset markets.

Haiyang Ru, CEO of HashKey Exchange BG, said the partnership responds to growing institutional demand for “compliant, real-world asset (RWA) yield solutions.” He said the collaboration also connects traditional finance with regulated on-chain infrastructure.

Both companies plan to explore wider access to tokenized products across more markets and asset classes. However, the current product has clear eligibility limits. According to the announcement, grBENJI is available only to professional investors and is not being offered to the general public in Hong Kong.

Franklin Templeton partners with HashKey Exchange to distribute tokenized US government money market fund across Asia. pic.twitter.com/gZrpupT4df

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Franklin Templeton Looks to Expand Tokenized Fund Reach

Chetan Karkhanis, senior vice president of Digital Assets Client Engagement at Franklin Templeton, welcomed the launch on HashKey. “We are excited to launch our tokenized money market fund on the HashKey Exchange platform,” Karkhanis said. He added that blockchain technology can improve areas such as transparency, security, accessibility, transaction speed and cost efficiency.

Franklin Templeton also expects the relationship with HashKey to move beyond money market funds over time. The firms may explore other tokenized investment products as the partnership develops. HashKey’s wider platform spans financial centers including Hong Kong, Singapore, Tokyo, Dubai and Bermuda. HashKey Exchange operates in Hong Kong under licenses from the Securities and Futures Commission, including approvals for dealing in securities and providing automated trading services.

grBENJI Brings U.S. Government Assets On-Chain

The grBENJI fund is domiciled in Luxembourg and was launched in February 2025. Franklin Templeton data showed total net assets of about $54.72 million as of July 31, 2026. Its benchmark is the FTSE 1-month U.S. Treasury Bill Index, while the fund focuses on generating income while preserving capital and liquidity.

Franklin Templeton renamed the product from the Franklin OnChain U.S. Government Money Fund to the Franklin OnChain U.S. Government Liquidity Fund on June 15, 2026. The HashKey launch now gives the tokenized fund another distribution route in Asia as regulated platforms expand access to real-world assets on blockchain networks.