Federated Hermes joins Wall Street’s tokenization push with plans for first onchain fund shares
The $911 billion Pittsburgh-based asset manager is teaming up with Prometheum to bring blockchain-based share classes of its funds to traditional brokerage accounts.
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Summary
- Investment manager Federated Hermes plans to issue its first tokenized fund share classes in early 2027, building on earlier efforts to bring its investment products onchain.
- The firm aims to issue tokenized fund shares itself, moving beyond past arrangements where third parties tokenized its existing products, Kevin Barr, director of digital asset products and platform told CoinDesk.
- Prometheum will provide regulated brokerage, custody and clearing services to help bring the products to financial advisers and their clients.
