Franklin Templeton, the global asset manager overseeing approximately $1.8 trillion in assets across more than 35 countries, has partnered with Hong Kong-licensed HashKey Exchange to distribute its tokenized Franklin OnChain U.S. Government Liquidity Fund, known as grBENJI, to digital asset investors in Asia.

The fund became available on HashKey’s Earn channel starting around August 24, 2026. It invests primarily in U.S. government money market instruments and U.S. dollar cash assets, delivering exposure through a blockchain-based token that represents a claim on the underlying holdings.

Access Limited to Professional Investors

Availability in Hong Kong is restricted to professional investors under the Securities and Futures Ordinance. The product is not offered to the general public. HashKey holds Type 1 and Type 7 licenses from the Hong Kong Securities and Futures Commission, permitting it to trade securities on clients’ behalf and operate an automated trading service.

Chetan Karkhanis, Franklin Templeton’s senior vice president of digital assets client engagement, described the launch as a key step in reaching HashKey’s base of digital assets-focused clients and institutional investors.

HashKey Exchange business group chief executive Haiyang Ru called the addition a monumental milestone for the platform, noting it addresses institutional demand for compliant, yield-generating products backed by real-world assets.

Broader Tokenization Strategy Advances

The partnership builds on Franklin Templeton’s earlier activity in Hong Kong. In November 2025 the firm introduced a tokenized money market product through a regulatory sandbox arrangement involving HSBC and digital asset platform OSL. The HashKey listing moves the same underlying fund onto a licensed exchange’s infrastructure for professional investors.

Both parties stated they intend to deepen the collaboration by expanding beyond money market funds into other tokenized products over time. Franklin Templeton plans to use HashKey’s multi-jurisdictional platform, which covers Hong Kong, Singapore, Tokyo, Dubai and Bermuda.

Separately, Franklin Templeton recently secured U.S. Securities and Exchange Commission clearance allowing its traditional investment vehicles to hold or use the tokenized BENJI product for cash management and collateral purposes. The structure was described as a first-of-its-kind no-action position. Implementation across more than 130 ETFs and mutual funds, which together manage roughly $872 billion, could begin as early as the fourth quarter of 2026, subject to individual fund board approvals.

Franklin’s tokenized money-market funds manage about $2.5 billion to $2.6 billion. On-chain data for BENJI showed a combined value of approximately $720 million across multiple blockchains as of late August 2026, with the majority still on Stellar.

Market Context for Tokenized Treasuries

Tokenized U.S. Treasury and money market funds have expanded rapidly. Data from tracking platforms indicate the segment grew roughly 1,500 percent over two years to reach about $15 billion. Overall tokenized real-world assets stood near $38 billion in late August 2026.

HashKey has been expanding its real-world asset and cross-border offerings. The exchange recently outlined plans for stablecoin-settled transactions linking Hong Kong with the UAE and wider Middle East markets using a regulated Hong Kong digital dollar.

Franklin Templeton has pursued additional distribution routes for its tokenized products, including integrations that allow institutional users to acquire BENJI with stablecoins and arrangements enabling the use of tokenized money market shares as collateral in crypto trading while assets remain with regulated custodians.

The companies said they will continue evaluating further tokenized investment products following the grBENJI launch on HashKey.