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The renowned U.S.-based asset management company, Franklin Templeton Investments, is intending to deploy the Stellar blockchain for a brand new government money market fund. As a result, they applied for a preliminary prospectus with the United States Securities and Exchange Commission (SEC) for a government money market fund with a focus on blockchain-based shares.
Through this mechanism, the firm is going to be equipped with the U. S. Government Money Fund. According to the details, the fund’s shares would be recorded on the Stellar network. This, however, is subject to the approval from the Securities and Exchange Commission (SEC).
As per the prospectus, the fund would try to maintain $1 share price and invest at least 99.5% of its total assets in Government securities, cash and repurchase agreements collateralized fully by Government securities or cash.
It is going to provide transparency for shareholders, and also notifies that it is associated with their own risks, such as hacking and loss of funds etc.
