Franklin Templeton updates pair of money market funds to be blockchain-ready

Franklin Templeton, through its affiliate Western Asset Management, has updated two institutional money market funds to integrate with emerging tokenized finance and regulated stablecoin markets. One fund, the Western Asset Institutional Treasury Obligations Fund, was adjusted to hold only U.S. Treasuries with maturities of 93 days or less, making it compliant with reserve requirements under the U.S. GENIUS Act for backing regulated stablecoins. The second fund, the Western Asset Institutional Treasury Reserves Fund, introduced a new digital institutional share class enabling approved intermediaries to record and transfer ownership via blockchain infrastructure, aiming for faster settlement and integration with digital collateral systems. These updates allow institutional clients to use familiar cash vehicles onchain without launching entirely new crypto-native funds, following similar moves by firms like JPMorgan.

(Source：The Block)