Franklin Templeton Partners with HashKey to Offer Tokenized Money Market Fund in Asia
Tokenization
“Franklin Templeton has partnered with Hong Kong's HashKey Exchange to distribute its tokenized money market fund, further expanding the global asset manager's presence in Asia. In a Monday statement, HashKey said it has launched the Franklin OnChain U.S. Government Liquidity Fund on the platform's Earn channel. The product is designed to offer investors access to a tokenized fund that mainly invests in U.S. government money market instruments and U.S. dollar cash assets. The tokenized fund is only available to professional investors and is not open for the general public in Hong Kong. 'We look forward to deepening this partnership by expanding beyond tokenized money market funds into other tokenized products over time, leveraging HashKey's multi-jurisdictional platform spanning Hong Kong, Singapore, Tokyo, Dubai and Bermuda,' said Chetan Karkhanis, Franklin Templeton's SVP of digital assets client engagement.”
Source: The Block
Bitwise Rides Tokenization Rush with Automated Stock Portfolios
Tokenization
“Bitwise Asset Management Inc. is set to offer investors access to automated portfolios of tokenized stocks, the latest step in the financial industry’s rush to manage traditional assets on the blockchain. The crypto asset manager with $9 billion in client assets will use Automated Token Portfolios, or ATPs, to let eligible investors outside the US hold baskets of tokenized stocks in their wallets, according to a release seen by Bloomberg. Wall Street has ramped up tokenization of traditional assets. which sees stocks and bonds being represented on digital ledgers as tokens. The market value of tokenized assets has jumped to about $38 billion, according to data provider rwa.xyz.”
Source: Bloomberg
Japan to Work on Blockchain-based Stock Settlement System, Details Expected Early 2027
Infrastructure
Japan's top financial regulatory agencies are reportedly working to establish a blockchain-based payment infrastructure for stocks and Japanese government bonds. The Financial Services Agency, the Ministry of Finance, and the Bank of Japan will jointly work with local institutions starting this summer to establish a development plan around the next-generation payment system, Nikkei Asia reported on Wednesday. The plan, expected as early as the beginning of 2027, will detail the blockchain's design, specify agency and institutional responsibilities, and outline a roadmap for future work, according to the report.
Source: The Block
Bitcoin Rises Above US$80,000 as Soft US Dollar, Debasement Fears Boost Momentum
Markets
“Bitcoin rose above US$80,000 to hit a more than three-month high on Tuesday (Aug 25) as a soft US dollar, in the wake of the moves by US Treasury Secretary Scott Bessent to calm the bond market, revived momentum in the crypto sector. US President Donald Trump last week called on Congress to pass a bill that would bring clearer definitions to the growing cryptocurrency sector. Since then, Bitcoin, the world’s largest cryptocurrency, has risen 16 per cent. It was last at US$80,323.24 in Asian hours, having earlier touched US$81,237.94, its highest level since mid-May. Bitcoin is up 28 per cent so far in August, set for its biggest monthly gain since November 2024.”
Source: The Business Times
Stablecoin Card Spending Forecast to Hit $50 Billion a Year by 2028 - RedotPay
Stablecoins
“Global stablecoin card spending is expected to quadruple to $50 billion a year by 2028, stablecoin payments company RedotPay said on Tuesday. The Hong Kong-based firm said the projection comes as stablecoin card spend crossed $1 billion in July, marking a record month, based on data from crypto payment card analytics company Paymentscan. Stablecoins are a type of cryptocurrency pegged to certain assets - typically a fiat currency such as the U.S. dollar - and designed to maintain a stable value. Global adoption of stablecoins has accelerated in recent years, as they gain traction in cross-border payments, treasury operations, crypto settlement and as a store of value in volatile economies.”
Source: Reuters
