Federated Hermes plans its first onchain fund shares

The $912 billion asset manager is moving toward fully tokenized share classes, though the plans still hinge on how digital transfer agency models develop Federated Hermes, one of the largest money market managers in the business, plans to issue its first fund shares that live directly onchain. For a firm with approximately $912 billion in total assets under management, that is a meaningful move. The plans are still developmental. Fully onchain share classes depend on how digital transfer agency models evolve, so this is a roadmap, not a launch date carved in stone.