Franklin Templeton has partnered with Hong Kong-licensed HashKey Exchange to distribute its tokenized Franklin OnChain U.S. Government Liquidity Fund (grBENJI) to professional investors in Asia. Launched on August 24, 2026, through HashKey's Earn channel, the fund targets short-term U.S. government securities and cash. The partnership leverages HashKey's SFC Type 1 and Type 7 licenses and comes amid rapid growth in the tokenized real-world asset market, which reached $38.2 billion by late August 2026.
Franklin Templeton–HashKey partnership
- ▪Franklin Templeton partnered with HashKey Exchange to distribute its tokenized Franklin OnChain U.S. Government Liquidity Fund, known as grBENJI, to professional investors in Asia.
- ▪HashKey Exchange launched the grBENJI fund through its Earn channel on August 24, 2026, restricting access to professional investors in Hong Kong while excluding the general public.
grBENJI tokenized fund mechanics
- ▪Each share of the grBENJI fund corresponds to one BENJI token, with ownership recorded on public blockchain rails while Franklin Templeton Investor Services maintains the official shareholder record.
- ▪Franklin Templeton's BENJI platform operates across multiple blockchain networks, including Stellar, Ethereum, Solana, Polygon, Avalanche, Arbitrum, Aptos, Base, and BNB Chain.
- ▪The grBENJI fund mainly invests in short-term U.S. government money market instruments, repurchase agreements, and U.S. dollar cash assets to maintain a stable $1.00 net asset value.
Hong Kong SFC licensing requirements
- ▪HashKey Exchange restricts its virtual asset trading platform services from users in mainland China, the United States, and other excluded jurisdictions.
- ▪The total real-world asset tokenization market grew to approximately $38.2 billion as of August 23, 2026, representing an 85% increase from $20.6 billion one year earlier.
Tokenized Treasury market growth
- ▪Tokenized U.S. Treasury debt accounted for approximately $15.6 billion of the total real-world asset tokenization market by late August 2026.
- ▪Franklin Templeton and HashKey Exchange plan to explore additional tokenized investment products across multiple jurisdictions, including Singapore, Tokyo, Dubai, and Bermuda.
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