Franklin Templeton: On-chain money market funds can reduce costs by 5-15 basis points, enabling banks to operate around the clock.

According to ME News, on February 11th (UTC+8), executives from Franklin Templeton, SWIFT, and Ledger stated that tokenized money market funds and digital bank deposits are moving from the pilot phase to the early stages of financial infrastructure development, potentially enabling the banking system to operate 24/7 natively on-chain. Chetan Karkhanis, Head of Digital Assets at Franklin Templeton, stated that the company is focusing on tokenizing money market funds, natively issuing fund units on-chain and supporting access via self-custodied wallets or exchanges to achieve 24/7 liquidity and reduce operating costs by 5 to 15 basis points. However, institutional adoption is still in its early stages. Industry data shows that the current on-chain stablecoin market is approximately $300 billion, and tokenized US Treasury bonds and other RWAs are approximately $40 billion, still a relatively small percentage compared to the global wealth exceeding $200 trillion. (Coindesk) (Source: ME)