Franklin Templeton Invests in Blockchain-based Social Impact Platform

Asia Blockchain Review
December 22, 2019

Franklin Templeton Investments, an American firm that manages assets worth around US$700 billion, led the first institutional investment of the Netherlands-based startup Proof of Impact, a global marketplace powered by blockchain for natural and social capital.

Attracting World-Leading Financial Firms

Proof of Impact allows users to donate or invest directly towards verifiable impact events as well as impact investment products. Aiming to solve global issues, the blockchain-based marketplace hopes to bring together investors and donors with non-profit and impact-focused enterprises.

Franklin Templeton’s scale of investment has not been disclosed, but the company will send its representative to sit on the startup’s board. Proof of Impact co-founder Fleur Heyns has commented on the company’s recent funding round, saying:

“We are extremely pleased that a global financial institution with extensive emerging market investment product experience and distribution capacity is committed to build the next generation impact investment market with us.”

Apart from Franklin Templeton, the Dutch startup attracted other major financial firms such as Ausum Ventures, Crypto Valley Venture Capital, and Pangea Blockchain fund.

Franklin Templeton Adopts Blockchain for Gov’t Securities

In September, the investment giant made a preliminary filing with the U.S. Securities and Exchange Commission (SEC) to start a blockchain-based mutual fund for government securities. Ownership of the fund’s shares will be recorded on blockchain network Stellar, according to the company’s filing.

Franklin Templeton said blockchain technology will be utilized to ensure transparency to shareholders and reduce settlement times. The company plans to invest in financial products such as U.S. government securities, repurchase agreements, and blockchain-based shares.

The prospectus states that cryptocurrencies will not be part of the investments.


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