Franklin Templeton Launches Dedicated 'Franklin Crypto' Division

Franklin Templeton has agreed to acquire 250 Digital, an active crypto investment management firm spun out of venture firm CoinFund in January, establishing a dedicated division called Franklin Crypto aimed at institutional investors. The deal, announced Wednesday, includes the full 250 Digital investment team and all liquid cryptocurrency strategies previously run by CoinFund. Franklin Templeton will also invest in those strategies as part of the agreement. The deal terms were not disclosed. Notably, the transaction will include BENJI tokens — which represent shares in the Franklin OnChain U.S. Government Money Fund (FOBXX) — as payment consideration. The company described the move as "an important and innovative step toward conducting M&A transactions using tokenized assets." To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io