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Franklin Templeton launches new fund on Solana
By Davide Grammatica
Franklin Templeton is also banking on tokenization, and doing so on Solana with a new mutual fund
Franklin Templeton bets on Solana
News continues to come in from the tokenization front, an area now assailed by the world’s leading financial firms.
This time the information comes from those directly involved in the setting of Solana Breakpoint 2024, in Singapore, where Mike Reed, chief development officer of asset manager Franklin Templeton, announced the launch of a new “money market fund” on the Solana chain.
A “breakthrough,” for Reed, for both traditional finance and crypto, for a move that is not a “simple promotion for financial services,” but a move that is a consequence of the application of technology that makes “everything smoother and cheaper.”
It is precisely from this belief that Franklin Templeton’s intention to build an infrastructure itself was born. “Rather than do it inauthentically by hiring an outside vendor to do the ‘tokenization’ for us, we decided to create our own development team,” Reed recounted. And thus a new digital wallet and on-chain transfer agent were born.
Solana Breakpoint 2024 Livestream | Day 1, Left Curve https://t.co/iowE2Kbrjq
— Solana (@solana) September 20, 2024
Solana at center of debate
Franklin Templeton is a financial company already famous in the crypto community. In early 2024 it was among the first issuers of theBitcoin spot ETFs , and later also committed to the same deal with Ethereum. It is not ruled out, therefore, it would also be in the front row for an ETF on Solana.
The bet on Solana stems from a long debate about the efficiency of the network in comparison to Ethereum, and it seems that it is precisely in the area of tokenization of traditional assets that a decisive challenge may occur. More and more companies seem to be fascinated by Solana’s prospects in relation to multiple industries (primarily payments), and if the institutional push materializes with respect to SOL as well, then we may see a surprising shift in hierarchies in the future.
