Franklin Templeton has received approval from the Monetary Authority of Singapore (MAS) to launch the Franklin OnChain U.S. Dollar Short-Term Money Market Fund, marking the first tokenised fund available to retail investors in Singapore. This innovative fund, structured under Franklin Templeton Investments Variable Capital Company, aims to broaden investor access with a low minimum investment threshold of $20.
The fund utilises Franklin Templeton’s blockchain-integrated transfer agency platform, enhancing transparency, security, and efficiency for investors. It mirrors the investment objectives of the Luxembourg-registered Franklin U.S. Dollar Short-Term Money Market Fund, which manages $1.76 billion in assets. The fund focuses on high-quality, short-term securities, primarily USD-denominated, to minimise currency exposure.
Tariq Ahmad, Head of APAC at Franklin Templeton, expressed enthusiasm about the launch, stating, “We are proud and excited to bring this first-of-its-kind tokenised money market fund to retail investors in Singapore.” He highlighted the fund as a significant milestone in leveraging blockchain technology to lower investment barriers.
Franklin Templeton is actively involved in Project Guardian, a MAS initiative aimed at enhancing financial market liquidity through asset tokenisation. Roger Bayston, EVP and Head of Digital Assets at Franklin Templeton, noted, “We believe that blockchain technology is fundamentally reshaping the financial services industry.”
Since 2018, Franklin Templeton has been at the forefront of digital asset ecosystems, launching the world’s first U.S.-registered mutual fund using blockchain in 2021. The company continues to innovate, driven by insights from its dedicated research team and industry connections.
“`
