Franklin Templeton Acquires CoinFund Spinoff, Expands Crypto Offerings
- Franklin Templeton is acquiring 250 Digital, a spinoff from CoinFund, to form its crypto unit, Franklin Crypto.
- The acquisition will integrate the entire team and investment strategies of 250 Digital into Franklin Templeton.
- BENJI tokens, representing an on-chain money market fund, will be used as payment considerations in this deal.
- Christopher Perkins will lead Franklin Crypto as division leader, with Seth Ginns serving as Chief Investment Officer.
- Franklin Templeton’s BENJI token has expanded access to Ethereum and other blockchain networks like Solana and Arbitrum since its debut in 2024.
Franklin Templeton’s acquisition of 250 Digital marks a significant step in expanding its capabilities within the digital asset space through the formation of Franklin Crypto. The integration of BENJI tokens as payment highlights innovative approaches to M&A transactions on blockchain networks.
This strategic move positions Franklin Templeton among a select group of global asset managers with dedicated crypto investment management teams, enhancing their ability to serve clients worldwide with institutional-grade offerings.(Source )
