Federated Hermes and Prometheum Target 2027 Tokenized Funds

Federated Hermes and Prometheum plan to bring tokenized funds to US brokerage channels, with the first product targeted for the first quarter of 2027. Announced on October 13, 2026, the partnership will use Prometheum’s SEC-registered, FINRA-member broker-dealer infrastructure to offer tokenized securities funds through existing brokerage accounts and adviser relationships. Federated Hermes will manage the investments. Prometheum says its ProFinancial subsidiary will support issuance and distribution, while Prometheum Capital will provide custody, clearing and settlement, and connect introducing broker-dealers through its correspondent clearing platform. The firms have not named the first fund or disclosed its fees and other launch terms. Ledger Insights reported that a tokenized money-market fund could be the initial product, but the companies have not confirmed this. Federated Hermes reported $911.6 billion in assets under management as of June 30, 2026, and serves more than 11,000 institutions and intermediaries. The proposed tokenized funds could extend blockchain-based investments into established brokerage networks, but the launch remains a target, not a completed offering. The announcement does not identify a cryptocurrency tied to the project, so its direct price impact on crypto assets is likely limited.