Money market funds stories

Aug 12, 2026

SEC clears Franklin Templeton funds to use blockchain system for cash management

The SEC's Division of Investment Management issued a no-action letter allowing Franklin Templeton's traditional registered funds to invest in and hold shares of the Franklin OnChain U.S. Government Money Fund (FOBXX) through an affiliated blockchain-integrated custody system, subject to 12 conditions.

Aug 12, 20263 sources

Top claims

▪The Franklin OnChain U.S. Government Money Fund invests at least 99.5% of its assets in government securities, cash, and fully collateralized repurchase agreements to maintain a stable $1 share price.
▪The independent verification conditions mandate that at least two of the three annual accountant checks must be unannounced.
▪The U.S. Securities and Exchange Commission's Division of Investment Management issued a no-action letter on August 12, 2026, clearing Franklin Templeton's registered funds to invest in its blockchain-based OnChain U.S. Government Money Fund.

Subtopics

Blockchain technology1 Crypto custody regulation1 Crypto regulation1 Institutional crypto adoption1 Tokenization1

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