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Franklin Templeton has been approved to launch a tokenized fund in Singapore.
According to Wu, Franklin Templeton has been approved by the Monetary Authority of Singapore (MAS) to launch the Franklin On-Chain U.S. Dollar Short-Term Money Market Fund, becoming Singapore’s first tokenized fund aimed at retail investors. The fund is issued through Franklin Templeton’s Blockchain transfer platform, with a minimum investment of only 20 USD, aiming to enhance transparency, security, and efficiency. Singapore, with a 11.05% encryption adoption rate and a digital asset regulatory framework, is attracting Financial Institutions to accelerate their layout of tokenization products.