The $1.7 trillion asset manager did not disclose the amount paid for the acquisition of 250 Digital but revealed its plans for a new corporate division exclusively for crypto investments.
Source: CoinDesk
Franklin Templeton closes 250 Digital acquisition deal and sets up new Franklin Crypto division
Franklin Templeton has successfully completed its acquisition of 250 Digital, a move that signals the firm’s commitment to expanding its presence in the cryptocurrency space. The acquisition has led to the establishment of a new division, Franklin Crypto, aimed at exploring and integrating digital assets into its investment strategies. This strategic decision reflects the growing interest among traditional financial institutions to embrace blockchain technology and cryptocurrencies. By leveraging 250 Digital’s expertise, Franklin Templeton seeks to enhance its offerings and provide clients with innovative investment opportunities in the evolving digital landscape.