Odaily Planet Daily reports that global asset management giant Franklin Templeton has announced the launch of the US dollar-denominated tokenized money market fund, Franklin OnChain US Government Money Fund, in Hong Kong, open to professional and institutional investors.

The fund utilizes Franklin Templeton's proprietary blockchain ledger system, making it the first asset management product in Hong Kong to achieve a fully blockchain-based process for issuance, distribution, and service. Registered in Luxembourg, the fund aims to achieve returns and capital preservation through investments in short-term US Treasury bonds.

Tariq Ahmad, head of Franklin Templeton's Asia Pacific region, said the company plans to launch a tokenized fund for retail investors after obtaining approval from the Hong Kong Securities and Futures Commission (SFC). Brian Chen, head of OSL Wealth Management, said Hong Kong is becoming a trusted digital asset hub for global institutions.

This issuance follows closely on the heels of ChinaAMC HKD Digital Money Market Fund, the first tokenized fund launched by China Asset Management (Hong Kong) in February this year, further advancing Hong Kong's institutional exploration in the field of asset tokenization (RWA). (Cointelegraph)