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Franklin Templeton Explores Blockchain Tech for Mutual Funds, Including Potential Use Alongside Stablecoins

June 16 (Cointime) - Franklin Templeton has launched a money market fund that uses public blockchain to record transactions, marking the beginning of the financial institution's exploration of cryptocurrency's underlying technology.

The company is working with the SEC to unlock blockchain technology's potential for mutual funds, including efficiency gains and potential lower fees. Going forward, such funds could be used alongside stablecoins or even as an alternative to them.

The $1.4 trillion asset manager's OnChain U.S. Government Money Fund, which trades on the Nasdaq, began using the Stellar blockchain for its record-keeping two years ago and is now supported on the Polygon blockchain as well.

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