In brief
- Franklin Templeton is acquiring 250 Digital, a CoinFund spinoff, as it builds out its own crypto wing, Franklin Crypto.
- The firm is bringing the 250 Digital team on board as well as its crypto investment strategies, which it will invest in as part of the deal.
- It is using BENJI tokens, its on-chain money market fund, as payment considerations in the deal.
Global asset manager Franklin Templeton announced Wednesday it is forming a crypto unit—Frankling Crypto—following its acquisition of 250 Digital, a crypto investment firm and spinoff from CoinFund.
The acquisition, expected to close during Q2, brings the 250 Digital team and all its crypto strategies to Franklin Templeton, which will invest in those strategies as part…
