Trillion-dollar asset manager Franklin Templeton has revealed plans to adopt the Solana network for its on-chain mutual fund. Another Wall Street giant, Citibank, is also exploring using Solana to process transfers and other smart contract services. These developments are undoubtedly positive for the Solana ecosystem, which boasts bullish fundamentals following recent announcements.
Franklin Templeton To Launch Mutual Fund On Solana
Franklin Templeton’s executive Mike Reed announced at the 2024 Solana Breakpoint event that the asset manager plans to launch an on-chain mutual fund on the Solana network. Reed highlighted how cost-efficient it was to offer this fund on Solana, suggesting this was the primary reason for adopting the network.
Reed further explained how the $1.4 trillion asset manager believes that blockchain technology can help enhance their financial services. He noted that motivated their decision to bring the mutual fund on-chain, specifically on Solana.
Interestingly,
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