Federated Hermes, Prometheum to Issue Tokenized Securities Funds via Broker-Dealer Infrastructure
- —Prometheum ProFinancial will handle issuance and distribution; Prometheum Capital will provide custody, clearing and settlement
- —First tokenized fund product expected in the first quarter of 2027
- —Tokenized money-market funds are the expected opening product category
- —Federated Hermes manages $911.6 billion and serves over 11,000 institutions
Why it matters: A major asset manager is bringing tokenized funds into conventional brokerage accounts, expanding the RWA market beyond crypto-native platforms.
Source: Crypto Daily