W3BStation
Markets
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
10/14/2026

Federated Hermes to Issue Tokenized Fund Shares via Prometheum in Early 2027

What happened: Federated Hermes, a $911 billion asset manager, announced it will launch tokenized share classes of its funds in early 2027, partnering with Prometheum for custody, clearing, and settle

Federated Hermes to Issue Tokenized Fund Shares via Prometheum in Early 2027

What happened: Federated Hermes, a $911 billion asset manager, announced it will launch tokenized share classes of its funds in early 2027, partnering with Prometheum for custody, clearing, and settlement. The initiative will enable traditional brokerage clients to access blockchain-based fund shares, starting with money market funds. Specific fund names and the target blockchain have not yet been disclosed.

Why it matters: This marks a significant step in Wall Street's adoption of blockchain for mainstream financial products, signaling a shift from previous third-party tokenization models to direct issuance. However, Federated Hermes enters a field already dominated by BlackRock and Franklin Templeton, raising questions about late-mover advantages and competitive differentiation in tokenized money market funds.

Source: CoinDesk