Franklin Templeton and HashKey Change on August 24, 2026, introduced a partnership to convey the grBENJI tokenized money-market fund to HashKey’s Earn channel in Asia, increasing entry for eligible {and professional} buyers. The settlement comes as tokenized U.S. Treasuries have grow to be one of many largest segments of the RWA market, totaling round $15.6 billion.
HashKey Opens Asia Entry
The itemizing of grBENJI on the HashKey Earn Channel marks a brand new enlargement for Franklin Templeton in Asia for its tokenized cash market fund lineup, one of the vital outstanding product suites within the real-world belongings market. In response to an August 24 announcement, grBENJI is now accessible on the HashKey Change Earn Channel, permitting eligible digital asset buyers to entry a fund that primarily invests in U.S. authorities cash market devices and USD money belongings.
🤝 HashKey Change and Franklin Templeton collaborate to convey Franklin OnChain U.S. Authorities Liquidity Fund (grBENJI)* to digital asset buyers in Asia.#grBENJI is now accessible on HashKey Change Earn Channel, offering skilled buyers with entry to a fund… pic.twitter.com/D9akbY6Tsc
— HashKey Change (@HashKeyExchange) August 26, 2026
HashKey Change is a licensed digital asset platform in Hong Kong that obtained a license to function a digital asset buying and selling platform beneath the AMLO framework in Might 2024, alongside Sort 1 and Sort 7 licenses from the Securities and Futures Fee. For Franklin Templeton, this associate opens up a distribution channel tailor-made to buyers aware of crypto infrastructure who nonetheless require the construction and compliance requirements of conventional finance.
Franklin Templeton at present manages roughly $1.8 trillion in belongings as of July 31, 2026, and has developed the BENJI ecosystem over a number of years to convey fund shares onto the blockchain. Due to this fact, introducing grBENJI by way of HashKey shouldn’t be merely a brand new product itemizing, however an enlargement of distribution in Asia for the asset supervisor’s tokenized fund technique.
What grBENJI Presents
grBENJI is a tokenized share class of the Franklin OnChain U.S. Authorities Liquidity Fund, an funding fund that primarily invests in U.S. government-related cash market devices and USD money belongings. In response to Franklin Templeton, blockchain is used to facilitate the recording and distribution of fund shares, whereas the fund’s funding portfolio stays in conventional cash market belongings.
Not like stablecoins, grBENJI represents an possession stake in an funding fund and is topic to the distribution phrases, redemption situations, and danger elements of a fund product. The product additionally differs from “crypto yield” applications in that its yield comes from the fund’s cash market portfolio slightly than digital asset lending or staking actions.
In response to information from Franklin Templeton Luxembourg, the grBENJI share class had complete web belongings of roughly $54.72 million as of July 31, 2026, a minimal funding of $20, and a 7-day web yield of three.54% as of August 7, 2026. These figures place grBENJI in its particular product dimension, whereas the $15.6 billion threshold displays the broader tokenized U.S. Treasury debt market, not grBENJI’s particular person AUM.
Asia’s Function within the $15B Market
Tokenized U.S. Treasuries are at present one of many largest segments of the real-world belongings market. In response to RWA.xyz, tokenized U.S. Treasury funds reached roughly $15.64 billion in distributed worth as of August 24, 2026, whereas your entire tokenized RWA market stood at round $38.2 billion.
Asia is changing into a key distribution marketplace for these merchandise as Hong Kong and Singapore proceed to push tokenization ahead inside regulated monetary frameworks. In Hong Kong, initiatives round tokenized deposits, settlement, and fund tokenization are happening alongside the licensing framework for digital asset platforms. Singapore can also be the place many monetary establishments are experimenting with tokenized fund merchandise for eligible buyers.
The supply of grBENJI on the HashKey Earn Channel reveals that licensed digital asset exchanges are searching for to broaden past crypto spot buying and selling into tokenized conventional monetary merchandise. For Franklin Templeton, this channel helps attain skilled buyers in Asia whereas retaining the product inside managed distribution boundaries.
Demand for tokenized cash market funds doesn’t solely come from USD yields. These merchandise are additionally being monitored by establishments as on-chain money administration instruments, high-quality collateral, or an asset class that may be built-in into licensed digital monetary techniques.
Regulatory Limits and Subsequent Steps
Regardless of being distributed through blockchain infrastructure, grBENJI stays a fund product with restricted providing phrases. HashKey acknowledged that the product is meant for eligible or skilled buyers, not as a public providing for retail buyers in Hong Kong. Sure jurisdictions, together with Mainland China and the U.S., additionally fall exterior HashKey Change’s service scope.
Cash market funds are usually considered as a a lot lower-risk product group than many crypto belongings, however yields can fluctuate with USD rates of interest, NAV shouldn’t be unconditionally assured, and liquidity relies on fund phrases in addition to distribution channels.
Franklin Templeton and HashKey acknowledged that either side will proceed to discover further tokenized merchandise following grBENJI, amid conventional asset managers testing additional RWA distribution channels in Asia.
