Federated Hermes, an investment manager overseeing $911.6 billion in assets, has entered a partnership with crypto infrastructure provider Prometheum. The collaboration aims to introduce tokenized funds to brokerage clients by integrating blockchain assets into existing investment accounts.
Prometheum will utilize its SEC-registered and FINRA-member broker subsidiaries to facilitate the project. Its subsidiary, ProFinancial, will handle distribution, while Prometheum Capital will manage custody, clearing, and settlement services for the new offerings.
The companies expect to launch their first tokenized product in the first quarter of 2027. While specific details regarding the initial fund, its underlying assets, or the blockchain network to be employed remain undisclosed, the firms are focusing on money market funds as a primary use case.
This initiative seeks to bridge the gap between traditional brokerage systems and digital securities. By leveraging Prometheum’s infrastructure, Federated Hermes intends to distribute products through regulated intermediaries while maintaining its standard operational and investment protocols.
