Federated Hermes Teams With Conduit for Tokenized APAC Fund

The alliance marks the first digital assets initiative in the region for the Pittsburgh-based manager, which oversees $676.9 billion in money market assets. Under the agreement, Conduit will manage a fund invested in the UCITS-authorized Federated Hermes Short-Term U.S. Prime Fund, subsequently offering tokenized shares to regional clients. The move follows Federated Hermes’ recent push to deepen its APAC footprint, including plans for a new Hong Kong office to serve private banks and family offices.

Kevin Barr, who took the helm of Digital Assets Product and Platform Strategy in May 2026, stated that the firm intends to leverage its liquidity management expertise to provide on-chain distribution without sacrificing yield or stability. For Conduit, the partnership serves as an anchor for its multicurrency offerings, with CEO Richard Schroder noting that the firm aims to move beyond simple settlement by integrating tokens into AI-driven treasury management systems and collateral utility.