US asset manager Franklin Templeton and SBI Holdings, a Japanese online financial conglomerate, have signed an agreement to form a joint venture that focuses on exchange-traded funds and cryptocurrencies in Japan, aimed at giving investors greater access to a diversified range of investments.
The joint venture “will leverage on Franklin Templeton’s tokenised money market fund and digital asset-backed ETF experience, and SBI’s expertise in Japan’s digital asset space to meet local investors’ evolving interest and objectives”, the US firm says in a statement on July 26.
The shareholding structure was not disclosed.
According to Jenny Johnson, president and chief executive officer of Franklin Templeton, the “extensive reach of SBI’s iconic brand amongst younger audiences in Japan aligns well our commitment to help this new generation of investors achieve their goals through our future-focused investment solutions”.
California-based Franklin Templeton had over US$27 billion of assets under management as of June 2024.
Tokyo-based SBI Holdings primarily provides financial services to lenders, insurance firms and asset managers.