SEC clears Franklin Templeton funds to use onchain BENJI system for cash management
60-second summary
Franklin Templeton's traditional registered funds are cleared by the SEC to invest in its BENJI/FOBXX fund, allowing for onchain cash management. This decision enables the use of blockchain technology for cash management, marking a significant milestone in the adoption of digital assets in traditional finance.
Franklin Templeton received a no-action letter from the SEC enabling its traditional registered funds to invest in its BENJI/FOBXX fund.