Franklin Templeton Expands Blockchain Fund to Avalanche Network

August 23, 2024 12:00 AM AEST | By Team Kalkine Media

Google News:

Franklin Templeton Expands Blockchain Fund to Avalanche Network — Image source: Shutterstock

Recent News

Dana stock surges amid $2.7 billion Off-Highway business sale to Allis...

CoreWeave reportedly a key player in Google-OpenAI partnership

Subdued consumer inflation in May surprises, but likely not enough for...

Australia’s SkyJuice Foundation Wins Top Global Prize for Emergency Wa...

Franklin Templeton, a leading global asset management firm, has broadened its digital finance offerings by expanding its Franklin OnChain US Government Money Fund to the Avalanche network. This move marks the launch of what is described as the first blockchain-integrated money market fund on Avalanche, enhancing institutional access to digital finance.

Launched in 2021, the Franklin OnChain US Government Money Fund integrates blockchain technology through Franklin Templeton’s proprietary record-keeping system, Benji Investments. The fund’s expansion to Avalanche (AVAX) is part of Franklin Templeton’s ongoing digital asset initiatives, reflecting the firm's commitment to leveraging blockchain technology since 2018.

Wu, a spokesperson for Franklin Templeton, emphasized the strategic importance of this expansion, calling it a foundational step in the firm's blockchain strategy. The addition of Avalanche to the fund's offerings aligns with the firm’s broader goal of integrating traditional financial products with emerging digital technologies.

In parallel with the Avalanche expansion, Franklin Templeton has also applied to the United States Securities and Exchange Commission for approval of a new exchange-traded fund (ETF), the Franklin Crypto Index ETF. This ETF is designed to provide a comprehensive portfolio that tracks the performance of the CF Institutional Digital Asset Index, further diversifying the firm's digital asset offerings.

Additionally, Franklin Templeton announced the launch of the Franklin OnChain US Government Money Fund on Arbitrum on August 8. This initiative aims to bridge traditional finance with decentralized finance, offering tokenized shares on Arbitrum that facilitate low-risk investment opportunities.

With the inclusion of Avalanche, alongside existing networks like Arbitrum, Stellar, and Polygon, Franklin Templeton continues to expand its digital asset footprint, offering a broader range of blockchain-integrated financial products. This strategic expansion underscores the firm's commitment to advancing the integration of digital and traditional financial systems.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.