Franklin Templeton Acquires 250 Digital to Launch Institutional Crypto Division

Franklin Templeton has announced plans to acquire 250 Digital, a crypto investment firm built from CoinFund, marking a significant step in expanding its digital asset capabilities. The deal is expected to close in the second quarter of 2026, subject to regulatory approvals and closing conditions.

Through the acquisition, Franklin Templeton will establish a dedicated division called Franklin Crypto, designed specifically to serve institutional investors. Christopher Perkins, who comes from 250 Digital, will lead the new unit, while Seth Ginns will step in as Chief Investment Officer. Tony Pecore will also join the leadership team. The division will report to Sandy Kaul, the firm's head of innovation, and will integrate 250 Digital's liquid crypto strategies alongside Franklin Templeton's existing blockchain and venture capabilities.

Franklin Templeton Digital Assets already manages approximately $1.8 billion in assets and employs over 50 digital asset professionals, giving the newly formed Franklin Crypto a strong operational foundation from day one.

One of the more distinctive aspects of the deal is its use of on-chain payment through BENJI tokens, which represent shares in the Franklin OnChain U.S. Government Money Fund (FOBXX). Launched in 2021, FOBXX is the first U.S.-registered mutual fund to use blockchain technology for transaction processing and share ownership records. Incorporating BENJI tokens into the acquisition structure signals how blockchain-based settlement is beginning to intersect with traditional finance dealmaking.

Franklin Crypto will target pensions, sovereign wealth funds, and large institutional clients, offering access to digital assets through regulated investment structures spanning liquid tokens, venture strategies, and tokenized products. This announcement follows recent partnerships with Binance and Ondo Finance, further cementing Franklin Templeton's position as one of the most active traditional asset managers building infrastructure at the intersection of finance and blockchain technology.