In a landmark development for the financial sector, Simmons & Simmons JWS has played a pivotal advisory role in the launch of Singapore's first retail tokenised fund, the Franklin OnChain U.S. Dollar Short-Term Money Market Fund.
The innovative fund, authorised as a retail fund by the Monetary Authority of Singapore (MAS), marks a significant milestone in the evolution of digital asset investment.
Structured as a sub-fund of the Franklin Templeton Investments VCC, the fund is the first of its kind available to retail investors in Singapore. Using a blockchain-integrated transfer agency platform, the fund offers enhanced transparency, security, and efficiency. With a minimum investment of just US$20, it opens up access to a diverse portfolio of high-quality, short-term securities globally.
Franklin Templeton is a leading global asset management firm, at the forefront of building a vibrant digital asset ecosystem in Singapore. Its commitment to leveraging blockchain technology aims to lower investment barriers and deliver transformative financial products.
The Simmons team was led by Jek Aun Long, Partner in the firm’s investment funds practice.
Jek Aun Long commented: “Simmons & Simmons JWS is proud to support this groundbreaking venture, reflecting our dedication to innovation in the financial services industry. This collaboration underscores the transformative potential of digital finance and a shared vision for the future of investment.”