Franklin Templeton Launches First Tokenized Money Market Fund in Singapore
Franklin Templeton has received approval from Singapore's Monetary Authority to launch a retail-friendly tokenized money market fund. The Franklin OnChain U.S. Dollar Short-Term Money Market Fund has a low minimum investment of $20, aiming to broaden access to tokenized assets.
The fund, structured under Franklin Templeton Investments VCC, will be managed by Templeton Asset Management Ltd, with Franklin Advisers Inc serving as the sub-manager. It mirrors its Luxembourg counterpart, focusing on high-quality, short-term USD-denominated securities with minimal currency exposure.
Shares will be offered through the firm's blockchain-integrated transfer agency platform. This move is part of a broader trend among major asset managers exploring tokenization, with competitors like BlackRock and VanEck also launching international asset funds. Franklin Templeton has been at the forefront of this trend, having launched a similar fund in the U.S. in 2021 and participating in MAS's Project Guardian since 2018.
The new fund, the first of its kind in Singapore, is set to lower investment barriers by offering tokenized assets to a wider retail audience. With a low minimum investment, it has the potential to democratize access to international assets, marking a significant milestone in Franklin Templeton's digital asset journey.
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