Federated Hermes taps Prometheum to launch blockchain-based fund share classes, aiming to modernize access for traditional brokerage clients.
Federated Hermes is strategically positioning itself at the intersection of traditional finance and blockchain technology by partnering with Prometheum. This initiative aims to integrate blockchain-based share classes directly into traditional brokerage accounts, leveraging the firm's $911 billion in assets to modernize fund distribution.
The partnership aims to bring blockchain-based share classes of Federated Hermes funds into traditional brokerage accounts.
Federated Hermes is a Pittsburgh-based asset manager with $911 billion in assets.
Prometheum is collaborating with Federated Hermes to offer blockchain-based share classes of funds to traditional brokerage accounts.
Federated Hermes, the Pittsburgh-based asset manager overseeing $911 billion in assets, is collaborating with Prometheum to integrate blockchain-based share classes into traditional brokerage accounts. This strategic move marks a significant step in bridging institutional fund management with distributed ledger technology.
The partnership aims to bring blockchain-based share classes of Federated Hermes funds to traditional brokerage accounts, facilitating easier access to onchain assets.