Franklin Templeton Launches Crypto Unit with 250 Digital Acquisition

Franklin Templeton, a prominent asset manager overseeing $1.7 trillion, is establishing a dedicated cryptocurrency division through the acquisition of 250 Digital. According to NS3.AI, this strategic move aims to cater to pension and sovereign wealth funds, marking a shift towards actively managed institutional offerings. To facilitate the acquisition, Franklin Templeton plans to utilize tokens backed by its blockchain-based government money fund as part of the purchase price.