Polygon (MATIC): Fund manager Franklin Templeton arrives

Blockchain means increased security, transparency, and trust for a company. Gradually, companies are migrating to this disruptive technology to enjoy its ineffable conveniences. Recognizing this, investment giant Franklin Templeton decides to embark on Ethereum’s Layer 2 platform, Polygon.

Franklin Templeton lands in Polygon

Certainly, Polygon has seen its popularity rise after the rollout of zkEVM Layer 2. Seduced by the innovations recently implemented in this blockchain, fund manager Franklin Templeton decided it was time to take a big jump.

“Franklin Templeton today announced that Franklin Templeton today announces that the Franklin OnChain U.S. Government Money Fund (FOBXX) (the “Fund”), the first U.S.-registered mutual fund to use a public blockchain to process transactions and record share ownership, is now supported on the Polygon blockchain,” the U.S. giant’s website reads.

This decision was made by Franklin Templeton after noting the “operational efficiencies” associated with using a “blockchain-integrated system.”

According to the company, the distributed ledger has several advantages, including:

• Its high level of security;
• Speed of transactions;
• The reduction of costs;
• Etc.

All of which has led to interest from Franklin Templeton’s shareholders.

Roger Bayston, head of digital assets at Franklin Templeton, said:

“Extending the reach of the Franklin OnChain U.S. Government Money Fund to Polygon enables the Fund to be further compatible with the rest of the digital ecosystem, specifically through an Ethereum-based blockchain. This furthers our distribution reach through a Layer 2 (L2) blockchain that has a proven track record.”

About Franklin Templeton

In fact, it is a US-based organization that specializes in investment management. It has several subsidiaries in all four corners of the world. They operate under the name of Franklin Templeton.

Franklin Templeton’s ultimate goal is to help its clients achieve good results. As such, it offers “global specialization, providing broad capabilities in equities, fixed income, multi-asset solutions and alternatives.”

Franklin Templeton currently has:

• 75 years of experience;
• Offices in 30 countries;
• 1,300 investment professionals;
• 1.4 trillion in assets under management;
• and more.

With a Polygon that does not hesitate to innovate, especially in smart contract automation, other companies will certainly add to the list of beneficiaries.