Franklin Templeton's Head Sees Blockchain as Future of Capital Markets
Robert Crossley, Franklin Templeton's head of thematic research, sees blockchain as a transformative force in global capital markets. He argues that the industry is only beginning to grasp its potential, particularly in cost structure and asset management.
Crossley envisions a future dominated by public blockchains, offering transparency, security, and community-driven innovation. He believes that tokenisation is about more than just digitising assets; it's about rearchitecting systems for real-time ownership and programmability, reducing operational friction.
Franklin Templeton has already made strides in this area. In 2021, it launched the first tokenised US '40 Act money market fund, not as a proof of concept, but as a production-grade product. The 'Benji' fund, used by corporate treasurers, crypto exchanges, and retail investors, offers daily interest payments, full on-chain shareholder registers, and flexible collateral use. With approximately $750 million in AUM, it's a testament to the growing appetite for digital assets.
Crossley's strategic research, engaging with major asset managers and pension funds, has focused on the potential of digital infrastructure to unlock new asset classes. He sees digital assets as the next generation of alternatives, aiming to deliver efficiency, security, and utility.
Crossley's insights highlight the potential of blockchain and tokenisation to reshape global capital markets. Franklin Templeton's practical steps, such as the 'Benji' fund, demonstrate that this future is not distant, but already here and growing.
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