Dear HashKey Exchange Clients,
HashKey Earn Channel is pleased to announce the list of Franklin OnChain U.S. Government Liquidity Fund(grBENJI) (the "Product").
Franklin OnChain U.S. Government Liquidity Fund (grBENJI) is a tokenized money market fund offered by Franklin Templeton. The Fund invests primarily in U.S. government securities, repurchase agreements and U.S. dollar cash assets, and seeks to maintain a constant net asset value (“NAV”) of approximately USD 1.00 per share.
The Fund is designed to provide investors with exposure to short-term U.S. dollar-denominated assets, with an investment objective of seeking to maximise income to the extent consistent with the preservation of capital and liquidity.
Through the HashKey Earn Channel, eligible clients may subscribe to and redeem the Product in USD, subject to the applicable eligibility requirements of HashKey Exchange and the issuer.
Product Details:
| Item | Details |
| Product Name | Franklin OnChain U.S. Government Liquidity Fund (grBENJI) |
| Fund Manager | Franklin Templeton |
| Product Type | Tokenized Money Market Fund |
| Underlying Exposure | Primarily U.S. government securities, repurchase agreements and U.S. dollar cash assets |
| Eligible Clients | Professional Investors |
| Subscription / Redemption Currency | USD |
| Subscription Settlement | Subscription orders submitted through the HashKey Earn Channel are expected to settle on T+1, subject to the issuer's dealing calendar, settlement arrangements and operational processing. |
| Redemption Settlement | Redemption orders submitted through the HashKey Earn Channel are expected to settle on T+1, subject to the issuer's dealing calendar, settlement arrangements and operational processing. |
| Dealing Frequency | Daily* |
| Daily Cut-off Time | 9:00 AM (HKT) |
| Minimum Subscription | 25 USD |
| Minimum Redemption | 1 USD |
| Fees | • Platform Subscription Fee: 0% • Platform Redemption Fee: 0.1% |
*Subscription and redemption requests may be submitted daily and will be processed in accordance with the issuer’s applicable dealing calendar, operational procedures and settlement arrangements. Orders submitted on U.S. public holidays or other non-dealing days may be processed on the next available dealing day.
Note: The Product follows a fund subscription and redemption process. Subscription and redemption are not instantaneous, and the execution price and settlement timing are subject to the issuer’s applicable arrangements. Product terms, settlement timelines and operational parameters may be updated from time to time due to issuer arrangements, regulatory requirements or platform operations. Please refer to the latest information displayed on the order page and official platform announcements.
Important Notes
Please read the following carefully before investing in the Product.
Complex Product
The Product is classified as a complex product. Investors should exercise caution in relation to the Product. Before investing, investors should ensure that they fully understand the nature, features and risks of the Product and carefully consider whether the Product is suitable for them in light of their investment objectives, financial circumstances, risk tolerance and investment experience.
Client Eligibility
The Product is available only to eligible Professional Investors who satisfy the applicable requirements of HashKey Exchange and the issuer. Clients must complete all applicable onboarding, suitability assessments and regulatory requirements before transacting in the Product.
Investment Objective and Underlying Assets
The Fund invests primarily in U.S. government securities, repurchase agreements and U.S. dollar cash assets. It seeks to generate income while preserving capital and maintaining liquidity, and seeks to maintain a constant NAV of approximately USD 1.00 per share.
The Fund’s objective of maintaining a constant NAV does not constitute a guarantee of principal, NAV or investment return.
Subscription and Redemption
Subscription and redemption requests may be submitted daily and will be processed in accordance with the issuer’s dealing calendar, valuation methodology, operational procedures and settlement arrangements. The final execution price and settlement timing are subject to confirmation by the issuer.
Under certain circumstances, including market disruption, operational issues or non-dealing days, processing or settlement may be delayed.
The Product currently supports subscription and redemption in USD only. Other currencies or digital assets are not supported for direct subscription or redemption.
Tokenized Fund Structure and Transfer Restrictions
grBENJI represents interests in the Fund using blockchain-based recordkeeping infrastructure. The use of blockchain technology does not change the nature of the underlying Fund investments, which primarily consist of traditional financial assets.
On HashKey Exchange, the Product is currently available for subscription and redemption through the HashKey Earn Channel only. Deposits and withdrawals of grBENJI to or from external wallets, transfers between HashKey Exchange users, and secondary market trading of grBENJI are not supported.
Investors may exit their investment only by submitting a redemption request through the HashKey Earn Channel, subject to the applicable redemption and settlement arrangements.
Income Distribution
Any income distributions, if applicable, will be made in accordance with the issuer’s applicable distribution arrangements. Such distributions will generally be made in the form of additional grBENJI tokens rather than cash.
The amount and timing of any income distribution are subject to the Fund’s applicable distribution policy and the issuer’s arrangements and are not guaranteed.
Product Arrangements
HashKey Exchange may adjust, suspend or discontinue the Product or related services where required due to issuer arrangements, market conditions, regulatory requirements, operational considerations or other applicable circumstances. Where reasonably practicable, clients will be notified in advance.
Product-Specific Risk Warnings
The Product is a complex product. Investors should carefully consider the risks associated with the Product, including but not limited to:
- Money Market and Interest Rate Risk: The Fund invests primarily in U.S. government securities, repurchase agreements and U.S. dollar cash assets. Changes in interest rates, market conditions, liquidity conditions or the creditworthiness of relevant counterparties may adversely affect the Fund’s value and performance.
- NAV and Principal Loss Risk: Although the Fund seeks to maintain a constant NAV of approximately USD 1.00 per share, neither the NAV nor the principal or investment return is guaranteed. Investors may lose part or all of their invested capital under certain circumstances.
- Blockchain and Technology Risk: The Product utilizes blockchain technology to represent Fund interests and may be subject to blockchain network, cybersecurity, transaction processing, smart contract and other technology-related operational risks.
- Subscription, Redemption and Liquidity Risk: Subscription and redemption are subject to the issuer’s dealing calendar, operational procedures and settlement arrangements. Processing or settlement may be delayed or suspended due to market conditions, liquidity constraints, operational issues, non-dealing days or other circumstances.
- Service Provider and Regulatory Risk: The operation and performance of the Product depend on the issuer, fund manager, custodian and other relevant service providers. Tokenized investment products are also subject to evolving legal and regulatory requirements, which may affect their issuance, custody, transfer, servicing or redemption.
The Product is not protected by any deposit protection scheme. Past performance, if any, is not indicative of future results.
Investors should carefully review the relevant offering documents, prospectus, product documentation and applicable risk disclosures before making any investment decision, and independently assess whether the Product is suitable for them in light of their investment objectives, financial circumstances, risk tolerance and investment experience.
More Information
For further information, please refer to:
Notice on Management of Voting Rights
HashKey Exchange does not exercise any voting rights that may be associated with the Product on behalf of its clients. Any rights associated with Fund shares, if applicable, will be handled in accordance with the Fund’s governing documents and applicable arrangements.
Legal disclaimer: This material has been prepared for general informational purposes only and should NOT be: (1) considered an individualized recommendation or advice; or (2) relied upon for any investment activities. All information is provided on an as-is basis and is subject to change without notice. We make no representation or warranty of any kind, express or implied, regarding the accuracy, validity, reliability, availability, or completeness of any such information. HashKey Exchange does NOT provide investment, legal, or tax advice in any manner or form. The ownership of any investment decision(s) exclusively vests with you after analyzing all possible risk factors and by exercising your own independent discretion. HashKey Exchange shall not be liable for any consequences thereof.
Risk warning and disclosure:
- Trading in tokenized investment products on HBL's Earn Channel and using the Product Dealing Services involves risks, some of which are set out below. These risks, and additional risks arising either now or in the future, could result in the loss, failure or destruction of your assets, inability to receive any benefits available to you, other losses and termination of our Product Dealing Services.
- You must consider carefully whether the risks set out below, as well as all other applicable risks (including those described in the offering documents of each product), are acceptable to you prior to any transaction in tokenized investment products on our Earn Channel.
- You must seek professional advice regarding your particular situation before transacting in tokenized investment products or using our Product Dealing Services.
- The risk of loss in transactions involving tokenized investment products can be substantial. You should therefore carefully consider whether such transactions are suitable for you in light of your investment objectives, financial circumstances, your tolerance to risks and your investment experience. You should be capable of bearing a full loss of the amounts invested as a result of or in connection with any transaction in tokenized investment products and any additional loss over and above the initial amounts traded or invested that may become due and owing by you. In considering whether to trade or invest, you should inform yourself and be aware of the risks generally, and in particular, should note the following specific risk factors which may apply to any given transaction in tokenized investment products.
- Whilst the information regarding the tokenized investment products on our channel may be helpful to you when making an investment decision, the information and data contained in this document are for reference only. It does not constitute (i) an offer, solicitation, invitation or recommendation for buying or selling the product or (ii) investment advice. You should therefore consider whether the information is appropriate for your needs.
- Past performance of a tokenized investment product is not a reliable indicator of future performance. Such historical performance data are calculated based on retrospective market conditions, technological infrastructure, and regulatory frameworks that may no longer apply. Such data does not constitute a guarantee, projection, or promise of future results. You should not base your investment decisions solely on historical performance data.
- Please refer to our Earn Channel User Terms & Risk Disclosure for more information.
Hash Blockchain Limited
Hash Blockchain Limited is responsible for the issue of this material in Hong Kong. It is licensed by the Securities and Futures Commission for Types 1 and 7 regulated activities under the Securities and Futures Ordinance, and has obtained a license to operate a virtual asset trading platform under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). HashKey Exchange does not service users from Mainland China, United States and certain other jurisdictions in compliance with laws and regulations. This material has not been reviewed by the Securities and Futures Commission of Hong Kong or any other regulator.
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