According to CoinDesk, Franklin Templeton, a Silicon Valley asset management company with total assets of $1.6 trillion, has been at the forefront of traditional financial giants entering the digital asset field. The company's president and CEO, Jenny Johnson, said that they have studied blockchain technology and believe that this will be a revolution, so they must make sure they understand it. Currently, the company runs about 30 verification nodes on 12 different blockchains, such as Ethereum (ETH), Cardano (ADA), Stellar (XLM) and Provenance. Johnson explained that the main attraction of blockchain technology is its efficiency in recording and mediating transactions and its potential for cost savings. Blockchain provides a single "source of truth" that records transaction times better than traditional processes, which may help reduce costs and administrative workloads. In addition, another advantage of blockchain is tokenization, which allows physical assets such as funds and bonds to be used on digital asset tracks. Franklin Templeton is a pioneer in this regard. They launched the first on-chain available money market fund using the Stellar network in 2021, several years earlier than competitors such as Blackstone.
