Federated Hermes plans first tokenized fund shares through Prometheum
The $911 billion manager says money market funds are a likely starting point and has not named the funds or blockchains.
At a glance
Federated Hermes, the $911 billion asset manager, is planning its first tokenized fund shares through Prometheum, with money market funds as a likely starting point, the manager says.
The plan is an outline rather than a product: Federated Hermes has not named the funds it would tokenize or the blockchains the shares would run on.
The tokenized real-world asset market was about $65 billion as of July 31, according to the IMF.
Federated Hermes, the $911 billion asset manager, is planning its first tokenized fund shares through Prometheum, with money market funds as a likely starting point, the manager says.
The plan is an outline rather than a product: Federated Hermes has not named the funds it would tokenize or the blockchains the shares would run on.
The tokenized real-world asset market was about $65 billion as of July 31, according to the IMF. Federated Hermes runs $911 billion, so even a tokenized share class over a fraction of its money market lineup would enter a market that remains small next to one manager's existing assets.
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