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The Real-World Asset Tokenisation Illusion: Why Yield-Backed Money Market Tokens Mask Secondary Liquidity Traps

Opinion

26 Aug 2026

The Real-World Asset Tokenisation Illusion: Why Yield-Backed Money Market Tokens Mask Secondary Liquidity Traps

As Franklin Templeton partners with HashKey Exchange to distribute tokenised treasury fund wrappers across Asia, investment managers misprice the structural friction of on-chain secondary liquidity platforms.

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