Federated Hermes taps Prometheum for tokenized fund debut in Q1 2027

Federated Hermes, which manages $911.6 billion in assets, has partnered with Prometheum to develop tokenized funds for U.S. brokerage distribution, with the first product expected in Q1 2027. Q1 2027 is the expected launch window for the partnership’s first tokenized fund product. ProFinancial will support distribution, while Prometheum Capital will provide custody, clearing and settlement services. Introducing broker-dealers will access the funds through Prometheum Capital’s correspondent clearing platform. Federated Hermes reported $911.6 billion in assets under management as of June 30, 2026. Prometheum and Federated Hermes said in their Oct.