Federated Hermes, an asset manager with $911.6 billion in assets under management, has partnered with crypto infrastructure provider Prometheum to bring tokenized funds to brokerage clients. The first product is expected in the first quarter of 2027. The collaboration aims to make tokenized products available through the brokerage accounts and adviser relationships investors already use. Prometheum Capital will provide custody, clearing and settlement while ProFinancial will support distribution. Kevin Barr, director of digital assets at Federated Hermes, said tokenized funds represent the logical next step for broker-dealer and RIA clients seeking on-chain access to traditional investments.
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