Franklin Templeton Launches Blockchain-Based Fund in Singapore for Retail Investors
Franklin Templeton has launched a new fund in Singapore, the Franklin OnChain US Dollar Short-Term Money Market Fund, with a low minimum investment of $20. This move aims to open up tokenized assets to a wider retail audience in Asia. The fund, managed by Franklin Templeton Fund Management (S) Limited and structured under Franklin Templeton Investments VCC, will use a blockchain-integrated transfer agency platform. This innovative approach mirrors Franklin Templeton's Luxembourg-registered counterpart, focusing on high-quality, short-term USD-denominated securities. Franklin Templeton has been exploring digital assets since 2018 and is a participant in MAS's Project Guardian. The firm previously launched a tokenized money market fund in the United States in 2021, the first U.S.-registered mutual fund to use a public blockchain for transactions and share ownership recording. The new fund in Singapore is managed by Templeton Asset Management Ltd, with Franklin Advisers Inc serving as the sub-manager. The approval from the Monetary Authority of Singapore (MAS) allows Franklin Templeton to offer this fund to retail investors. Tariq Ahmad, Head of APAC at Franklin Templeton, sees this as a significant milestone in using blockchain technology to lower investment barriers in the Asia region.
