Federated Hermes, an asset manager with $912 billion in total assets, is developing plans to issue fund shares directly on the blockchain. The company aims to move beyond current tokenized access models toward fully onchain share classes, where records are maintained exclusively on a distributed ledger.
The transition depends on the evolution of digital transfer agency models and the maturation of regulatory frameworks. Kevin Barr, appointed in May 2026 as Director of Digital Assets Product and Platform Strategy, is leading the initiative. As of June 30, 2026, the firm managed $676.9 billion in money market assets.
The company has already established several digital initiatives. In October 2025, it partnered with Archax to provide tokenized access to three UCITS money market funds on Ethereum and Solana. On June 9, 2026, it launched the Digital Treasury Fund under the ticker OFFXX, designed to accommodate future tokenized share classes.
Additionally, on September 1, 2026, Federated Hermes announced a partnership with Conduit Digital Holdings to develop a tokenized fund distribution system for the Asia-Pacific region. This system will allow institutional and wholesale investors to gain exposure to the firm’s Short-Term U.S. Prime Fund through tokenization.
