Franklin Templeton, one of the world’s largest asset managers with over $1.4 trillion in assets under management, has recently announced the launch of a new fund on the Polygon (MATIC) platform. This move marks the latest development in the growing trend of traditional financial institutions embracing cryptocurrencies and blockchain technology.
The new fund, called the Franklin Templeton Digital Asset Fund, will invest in companies that are involved in the development and use of blockchain technology, as well as cryptocurrencies such as Bitcoin and Ethereum. The fund will be managed by Franklin Templeton’s Emerging Markets Equity team, which has a long history of investing in emerging markets and disruptive technologies.
The decision to launch a fund on the Polygon platform is significant because it highlights the growing importance of this blockchain network in the cryptocurrency ecosystem. Polygon is a layer 2 scaling solution for Ethereum that aims to improve its speed and reduce its transaction fees. It has become increasingly popular in recent months due to its ability to support decentralized finance (DeFi) applications and non-fungible tokens (NFTs).
By launching a fund on the Polygon platform, Franklin Templeton is signaling its confidence in the future of this technology and its potential to disrupt traditional financial systems. The move also demonstrates the company’s commitment to staying ahead of the curve when it comes to emerging technologies and investment opportunities.
In a statement announcing the launch of the new fund, Franklin Templeton’s Chief Investment Officer, Manraj Sekhon, said: “We believe that blockchain technology is at an inflection point and that it has the potential to transform industries across the board. We are excited to be at the forefront of this trend and to offer our clients exposure to this exciting new asset class.”
The Franklin Templeton Digital Asset Fund is not the first cryptocurrency-related investment product offered by the company. In 2019, Franklin Templeton launched a blockchain-based money market fund in partnership with Curv, a digital asset custody provider. The fund, called the Franklin Blockchain Enabled US Government Money Fund, was the first of its kind and allowed investors to gain exposure to short-term US government securities using blockchain technology.
The launch of the new fund on the Polygon platform is just the latest example of how traditional financial institutions are embracing cryptocurrencies and blockchain technology. As more companies and investors recognize the potential of this technology, we can expect to see even more innovation and investment in the space in the years to come.
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