Franklin Templeton Receives MAS Approval for First Retail Tokenised Fund in Singapore

Franklin Templeton has secured approval from the Monetary Authority of Singapore (MAS) to launch its first retail tokenised fund in the country. The fund, named The Franklin OnChain US Dollar Short-Term Money Market Fund, is designed to offer investors exposure to a portfolio primarily consisting of high-quality short-term securities issued by governments.

The fund's portfolio will also include eligible securities from companies worldwide, which are primarily denominated in US dollars or hedged back into the US dollar. Investors will have access to the fund with a minimum investment of US$20. The fund is structured as a sub-fund under the Franklin Templeton Investments VCC. Management of the fund will be overseen by Templeton Asset Management Ltd, which has appointed Franklin Advisers Inc as sub-managers.