The Crypto Times
Image default
Blockchain News

Management Firm Franklin Templeton Files Plan for Government Market Fund with Blockchain Focus

Asset management company Franklin Templeton Investments recently filed an exploratory scheme with the US Securities and Exchange Commission (SEC) for a federal money market fund that emphasizes blockchain-powered shares. 

A prospectus filed with the SEC on Sept. 3 revealed that the US-based company will invest in a wide arrange of products, like blockchain-based shares, government securities, and repurchase agreements. However, the Franklin Templeton fund will not be investing in cryptocurrencies. 

Stellar Network

The asset management firm will reportedly choose the Stellar network to document the ownership of the purchased shares. Templeton’s fund investment manager apparently believes that blockchain-founded shares will give shareholders numerous benefits, like improved transparency and lower settlement times. 

The Franklin Templeton proposal also showed that clients will be able to purchase and recoup shares of the fund via a special app. Investors who download and use the app will be awarded a blockchain wallet and a matching pair of private and public keys once the account is made. 

The fund will reportedly invest about 99.5% of its assets in government securities, repurchase, and cash agreements, all fully secured by cash or government securities. 

IBM Collaboration

Aside from Franklin Templeton, Stellar is also collaborating with IBM to develop a real-time international payment system. The implementation of Stellar protocol will reportedly allow for the IBM Blockchain World Wire to be utilized as a network provider for global payments.  

The Stellar Foundation has been in the news recently because of its support of Startup Studio, the latest blockchain accelerator. Startup Studio also enjoys the support of companies like Fidelity and the Ethereum Foundation.

Related posts

US Crypto Exchange Coinbase Negotiating Procurement of Xapo’s BTC Custody Business

Viena Abdon

Craig Wright’s Petition for Judgment on Kleiman Case Denied by Judge

Viena Abdon

Olympic Gold Medal Winner Serena Williams Joins the Coinbase Bandwagon

Viena Abdon

Head of Facebook Subsidiary Reassures Congress of Libra’s Cooperation

Viena Abdon

Volume of Blockchain in International Healthcare Market Expected to Hit $1.7 Billion by 2026

Viena Abdon

DJ Khaled and Floyd Mayweather Dismissed from Crypto Fraud Case

Viena Abdon