Franklin Templeton Enables US Government Money Fund On Stellar Blockchain

American Asset Management Company, Franklin Templeton, aims to use the Stellar blockchain technology for its new fund. Franklin Templeton enables US Government Money Fund on Stellar Blockchain. The company on Tuesday filed a preliminary prospectus with the US Securities and Exchange Commission in a money market fund. The shares of this would register on the Stellar Network. Basically, Franklin Templeton is from San Mateo, California. With over $700 billion in assets under management, it ranks among the top 35 mutual fund managers. Global exchange.

Franklin Templeton enables US Government Money Fund on Stellar Blockchain. The company has said that there will be no investment in cryptocurrencies. However, the company prospectus states:

Globalxchange. “The ownership of the Fund’s shares may be maintained and recorded solely on the Stellar network.”

With 99.5 percent of its investment in government securities, cash and repurchase agreements supported by government securities or cash. The money fund would seek a net asset valuation (NAV) of $1 per share, according to the prospectus.

The paper further describes that through a unique app, customers can purchase and redeem shares of the fund. Where an investor will get a Blockchain wallet and a public and private key for creating the account. Global X change.

Also, the prospectus states Franklin Templeton warns that stocks based on blockchain come with their hazards. Thus, including hacking and loss of money, even though they provide shareholders with transparency.

Globalexchange.The Fund does not allow financial intermediaries to invest on behalf of their clients, including futures commission dealers or derivatives clearing organizations, or broker-dealers or other intermediaries.

To validate a transaction, Stellar network users must pay transaction fees to the Stellar network. However, the purpose of such transaction fees is to safeguard the Stellar ledger against frivolous or malicious computing activities. Similarly, the investment manager or his subsidiaries or a third party will be responsible for these transaction fees. Global xchange.