Franklin Templeton Launches Dedicated Crypto Division
Franklin Templeton has established a dedicated crypto division as its on-chain tokenized assets surpassed $768 million. The move reflects growing institutional demand for real-world asset tokenization and deeper commitment from major asset managers.
Yuri Konnov
250 Digital was carved out of CoinFund Management in January 2026 as a standalone entity focused on liquid crypto strategies. The acquisition absorbs that team wholesale: Christopher Perkins, who led 250 Digital, now heads Franklin Crypto, while Seth Ginns carries his chief investment officer title into the new division. Tony Pecore, a veteran of Franklin Templeton Digital Assets, joins them, and the division reports to Sandy Kaul, Head of Innovation. Franklin Templeton operates in more than 35 countries, giving Franklin Crypto immediate access to an established global distribution network.
One structurally notable element of the transaction is its partial settlement in tokenized fund shares. Franklin Templeton used BENJI tokens — the on-chain representation of its Franklin OnChain U.S. Government Money Fund — as part of the acquisition consideration. According to RWA.xyz, BENJI launched in 2021 as the first U.S.-registered mutual fund to process transactions and record share ownership fully on-chain, backed by government securities, cash, and repurchase agreements, with a net asset value of $1.00 per token and a management fee of 0.20%. The fund's total asset value stood at $831,786,986 at the time of RWA.xyz's most recent data.
The acquisition coincides with a sharp expansion in Franklin Templeton's tokenized asset footprint. Crypto.news, citing RWA.xyz data, reported that the firm's tokenized assets grew from $768 million to over $2.5 billion in the year preceding the deal's close. Franklin Templeton Digital Assets managed approximately $1.8 billion in global assets as of December 31, 2025, providing the foundation from which the combined entity now scales.
The firm has been extending its tokenized product reach through third-party partnerships ahead of the Franklin Crypto launch. In February 2026, Franklin Templeton unveiled an arrangement with Binance enabling institutional investors to use tokenized money market fund shares as collateral for cryptocurrency trading while maintaining regulated custody of the underlying assets. Shortly after, it partnered with Ondo Finance to make tokenized exchange-traded funds available on blockchain networks. Those moves established distribution and collateral-use infrastructure that Franklin Crypto can now build upon with actively managed strategies.
Several material terms of the transaction remain undisclosed. Franklin Templeton has not published the total cash or token consideration paid for 250 Digital, the valuation assigned to the target, or the precise number of BENJI tokens transferred as part of the deal. The announcement does not specify which blockchain networks Franklin Crypto will prioritize for its active strategies, the fee structures for its institutional products, or the minimum allocation thresholds it will require from pension funds, sovereign wealth funds, or other large allocators it is targeting.
The immediate effect of the closing is that Franklin Templeton now operates a dedicated active crypto investment unit staffed by 250 Digital's former team, with BENJI tokens having served as verified M&A consideration in a major asset management transaction. What the available announcement materials do not establish is a live client mandate for Franklin Crypto, a disclosed performance track record for the strategies being brought in from 250 Digital, or a regulatory filing confirming the specific products the new division will offer to institutional investors in any given jurisdiction.
