Franklin Templeton Gets SEC Nod for Blockchain-Based Money Market Fund

Franklin Templeton has received SEC staff relief to allow eligible funds to invest in its blockchain-based OnChain U.S. Government Money Fund.

The tokenized fund, which uses Stellar as its main public blockchain, offers features such as hourly NAV calculations, intraday trading, and faster transaction processing.

The relief gives Franklin Templeton another way to manage cash and securities lending collateral within traditional investment portfolios.

Franklin said the structure could eventually bring tokenized assets into ETFs and mutual funds, making it easier for regulated portfolios to hold blockchain-based fund shares.