American asset management company Franklin Templeton Investments has filed a preliminary prospectus with the US SE) for a government money market fund with a focus on blockchain-based shares. According to SEC filing, Franklin Templeton’s fund will make investments in a range of products such as US government securities, repurchase agreements, and blockchain-based shares. Also, the document notes that the fund will not invest in cryptocurrencies.
Franklin Templeton has chosen the Stellar network to record the ownership of the fund’s shares. The fund’s investment manager ostensibly believes that blockchain-based shares will boost transparency and reduce settlement times, among other benefits to shareholders.
Image courtesy of: Financial Post