Federated Hermes, Inc. (NYSE: FHI), which manages $911.6 billion, has formed a strategic alliance with Singapore-based Conduit Digital Holdings to support a regulated tokenized money market fund distribution structure in Asia-Pacific. The initiative will use Federated Hermes’ Short-Term U.S. Prime Fund as the underlying investment for a Conduit-managed fund, giving holders tokenized exposure to its portfolio. The move is Federated Hermes’ first digital-assets initiative in the region and expands its recent tokenization activity, including access to three UCITS money market funds through FCA-regulated Archax and participation in a mirrored-tokenization initiative. Conduit will contribute Monetary Authority of Singapore-regulated infrastructure and regional distribution, while the partners identify collateral, multicurrency management and AI agentic treasury systems as potential uses for the tokens. The alliance joins a broader institutional push into tokenized funds, including initiatives involving Goldman Sachs, BNY Mellon, BounceBit and Franklin Templeton.