• Franklin Templeton plans to launch a mutual fund on Solana
• Citibank has shown interest in blockchain technology
• Solana is gaining momentum with increasing interest from traditional finance institutions
The decentralized blockchain Solana is gaining significant momentum lately as major financial institutions start embracing the technology. Two recent developments highlight the growing interest from traditional finance players.
Franklin Templeton Seeks to Launch a Mutual Fund on Solana
Global investment firm Franklin Templeton plans to launch a mutual fund on the Solana blockchain. The proposed Franklin Templeton US Government Money Fund will invest in short-term US government securities.
The fund will utilize Solana’s speed and low fees to facilitate investments and transactions. This marks a major milestone as one of the largest traditional asset managers embraces blockchain technology.
Citibank Shows Interest in Providing Solana Custody
Citibank, one of the world’s largest banks, is exploring plans to offer crypto custody services for Solana. The bank has been in talks with Solana Labs and Anchorage Digital, a crypto custody firm.
If launched, Citibank’s Solana custody service will enable institutional investors to securely hold the cryptocurrency. This demonstrates the growing confidence in Solana’s capabilities from major financial institutions.
Conclusion
The interest from Franklin Templeton and Citibank validates Solana as an enterprise-ready blockchain. As adoption increases, Solana is cementing itself as a leading network for decentralized finance and Web3 applications. The developments highlight the momentum and potential for further mainstream adoption of blockchain technology.
