FHI ▼ -2.3% - Federated Hermes, Inc. $FHI - Federated Hermes enters strategic alliance with Conduit Digital Holdings on tokenized money market fund in Asia Pacific Federated Hermes announced a strategic alliance with Conduit Digital Holdings to develop a tokenized money market fund for the Asia Pacific region, though the stock declined 2.3% today. The partnership represents an expansion into digital asset infrastructure, though market reaction suggests investors may be weighing near-term execution risks or profit-taking against the longer-term strategic potential. 01-SEP-2026 04:23 PM ET