Overview
- The Franklin OnChain U.S. Government Money Fund offers tokenized shares backed by short-term U.S. government securities for professional and institutional investors.
- Access is limited to Hong Kong investors with at least HK$8 million in assets, with a future retail product contingent on Securities and Futures Commission approval.
- The UCITS vehicle is registered in Luxembourg and records issuance, distribution and servicing directly onchain using Franklin Templeton’s Benji platform.
- Trials with HSBC and OSL in the HKMA’s Project Ensemble showed the fund token, gBENJI, can interoperate with tokenized deposits for near-instant, round-the-clock settlement.
- Franklin Templeton says the structure targets faster transactions, greater transparency and lower operating costs within the city’s Fintech 2030 framework.