Discover Franklin Templeton's Groundbreaking Mutual Fund Built on Solana (SOL)
Franklin Templeton's Bold Move into Solana (SOL)
Franklin Templeton, a global asset manager with $1.3 trillion in AUM, announced plans to launch a mutual fund natively on the Solana blockchain during the Solana Breakpoint 2024 event in Singapore.
This move highlights the increasing interest from traditional finance (TradFi) firms in blockchain technology, particularly in decentralized finance (DeFi).
Efficiency and Cost-Reduction via Blockchain
Mike Reed, Franklin Templeton’s partnership development lead, shared the firm’s plans, emphasizing the appeal of blockchain for financial services providers. Blockchain enhances efficiency and lowers costs, key factors for the asset manager as it aims to improve operational processes.
- Franklin Templeton’s interest in money markets aligns with blockchain's capabilities.
- The Solana blockchain supports a transactional economy and handles high transaction volumes efficiently.
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