Federated Hermes Plans First Blockchain-Based Fund Shares With Prometheum

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Federated Hermes, a major Pittsburgh-based asset manager, is partnering with Prometheum to offer blockchain-based share classes of its funds. The firm aims to make these tokenized shares accessible through traditional brokerage accounts. This move represents Federated Hermes' entry into the growing trend of asset tokenization on Wall Street. The initiative seeks to bring the benefits of blockchain technology, such as increased efficiency, to conventional investment vehicles.

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