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The SEC issued a no-action letter allowing Franklin Templeton's on-chain money market fund ($FOBXX) to manage cash and collateral, signaling a shift towards blockchain in traditional finance.
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NEW: The @SECGov's Division of Investment Management issues a no-action letter to @FTI_US, allowing its registered funds to use its on-chain money market fund $FOBXX to manage cash and collateral via blockchain rather than legacy custody rules. https://t.co/wb0BgeBMjE
SEC ISSUES NO-ACTION LETTER TO FRANKLIN TEMPLETON, ALLOWING REGISTERED FUNDS TO USE ONCHAIN MONEY MARKET FUND $FOBXX FOR CASH MANAGEMENT INCLUDING SECURITIES LENDING COLLATERAL
🚨NEW: The @SECGov’s Division of Investment Management has issued a no-action letter to @FTDA_US, clearing the way for its registered funds to use its onchain money market fund ($FOBXX) to manage cash, including collateral for securities lending. The relief allows Franklin Templet
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