FT Launches HK First Tokenized Money Market Fund
Franklin Templeton has launched HK’s first tokenized money market fund on its Benji Technology blockchain platform. The Luxembourg-registered fund invests in short-term U.S. government securities and offers faster settlement, improved transparency and lower fees compared with traditional funds. Initially open to institutions and professional investors with at least HK$8 million in assets, it leverages tokenization under the HKMA’s Fintech 2030 roadmap and Project Ensemble. HSBC and OSL provide SFC-licensed custody and trading infrastructure. A retail version is planned to broaden access. The move follows Franklin Templeton’s earlier tokenization projects with DBS and Ripple Labs on the XRP Ledger, including the sgBENJI fund and RLUSD stablecoin.
Bullish
This launch demonstrates growing institutional adoption of tokenization in regulated markets. By leveraging blockchain for a tokenized money market fund, Franklin Templeton enhances settlement speed, transparency and cost efficiency. Integration with the XRP Ledger through previous sgBENJI and RLUSD projects may boost demand for XRP as a settlement rail. The planned retail version signals broader market expansion, supporting both short-term trading liquidity and long-term infrastructure growth—factors that generally drive bullish sentiment in crypto.