Federated Hermes taps Prometheum to offer tokenized fund shares through traditional brokerage accounts

Prometheum's SEC-registered broker-dealer subsidiaries will handle custody, clearing and settlement for the tokenized products, and its correspondent clearing platform will let other broker-dealers offer them to customers. Barr said access, not blockchain technology, has been the main barrier to wider adoption, since advisers and brokerages need ways to offer tokenized funds without rebuilding systems. He described the arrangement as a natural extension of current distribution and said tokenization could change how investors manage cash, move between assets and build portfolios.

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