US asset manager Franklin Templeton and Tokyo-based online financial conglomerate SBI have signed an agreement to establish a joint venture in Japan to explore digital asset opportunities.
Franklin Templeton and SBI Holdings have signed a Memorandum of Understanding to establish a joint venture in Japan, according to a statement.
The proposed venture will look to leverage Franklin Templeton’s experience in tokenized money market funds and digital asset-backed exchange-traded funds (ETF) in the US with SBI’s expertise in Japan’s digital asset market alongside its strengths in distribution, integrated financial services capabilities and reach in the local market.
Recent Ether ETF Approval
The newly signed agreement follows a landmark approval in the US for Ether ETFs, with Franklin Templeton being amongst the applicants authorized.
«The extensive reach of SBI’s iconic brand amongst younger audiences in Japan aligns well [with] our commitment to help this new generation of investors achieve their goals through our future-focused investment solutions,» commented Jenny Johnson, president and CEO of Franklin Templeton.
