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10/13/2026

Federated Hermes to Issue First Directly Tokenized Fund Shares With Prometheum

What happened: Federated Hermes, a Pittsburgh-based asset manager with $911 billion in assets under management, announced plans to issue its first tokenized fund shares in Q1 2027.

Federated Hermes to Issue First Directly Tokenized Fund Shares With Prometheum

What happened: Federated Hermes, a Pittsburgh-based asset manager with $911 billion in assets under management, announced plans to issue its first tokenized fund shares in Q1 2027. The initiative is in partnership with Prometheum, which will provide SEC-registered broker-dealer, custody, clearing, and settlement services. Unlike previous arrangements where third parties tokenized Federated Hermes products, the firm will now directly issue tokenized share classes, making them accessible via traditional brokerages and financial advisers. The initial focus is expected to be on money market funds, though specific products and blockchain platforms have not been disclosed.

Why it matters: This move signals a significant shift in Wall Street’s approach to blockchain, as major asset managers begin to directly issue tokenized securities rather than relying on intermediaries. It follows a broader trend of institutional adoption, exemplified by BlackRock and Franklin Templeton’s recent tokenization efforts. By integrating with Prometheum’s regulated infrastructure, Federated Hermes aims to bridge traditional finance and digital assets, potentially accelerating mainstream adoption. The announcement also highlights growing industry interest in tokenized money market funds, though details on implementation remain sparse.

Source: CoinDesk