HashKey Adds Franklin BENJI Tokenized Money-Market Fund in Hong Kong

| medium.com
HashKey Exchange added Franklin Templeton’s tokenized money-market fund, **grBENJI**, to its Earn Channel on Aug. 25, 2026 for eligible **professional investors** in Hong Kong. The product is linked to Franklin’s **Franklin OnChain U.S. Government Money Fund (FOBXX)** within the **BENJI** token ecosystem and aims to bring regulated, blockchain-based access to short-term U.S. government yield. **Key point for traders:** **BENJI** is a tokenized, regulated fund (not a stablecoin). It typically invests in U.S. government securities, cash, and government-backed repo agreements, targeting liquidity with a near-$1 stable NAV and yields that track short-term Treasury rates. Updated metrics and context: as of June 30, 2026, the fund reported about **$753.24M** total net assets, and its 7-day current yield was around **3.56%** in Aug. 2026. Separately, Franklin reported preliminary AUM of about **$1.80T** as of July 31, 2026. Regulatory tailwind: on Aug. 12, 2026, SEC staff issued a no-action letter regarding certain custody arrangements for Franklin Templeton’s OnChain Funds, signaling regulators are engaging more actively with on-chain fund operations. Market angle: the tokenized Treasuries segment has expanded sharply (about **$15.64B**, 87 products, 66,031 holders as of Aug. 24, 2026). Franklin faces competition from products such as **BUIDL, USYC, and OUSG/USDY**. HashKey’s listing mainly strengthens Asia distribution for tokenized government yield and may support incremental institutional adoption—without implying a direct “risk-on” catalyst for crypto prices.
Neutral
This is a distribution upgrade for a regulated, tokenized U.S. government yield product, not a new high-volatility crypto narrative. The Hong Kong Earn Channel listing can support incremental institutional demand and improve market access for BENJI holders/eligible investors, but the underlying exposure (short-term Treasuries) generally behaves more like a yield/parking vehicle than a driver of speculative crypto price swings. In the short term, any BENJI-related trading activity is likely limited to fund/whale flows and venue effects rather than broader market repricing. In the long term, continued regulatory clarity (SEC staff no-action on custody) could modestly strengthen confidence in tokenized fund rails, yet it is unlikely to materially change the price of major crypto assets directly.