US asset manager Franklin Templeton has signed a memorandum of understanding with Japanese financial services group SBI Holdings to establish a joint venture in Japan for digital assets.
The proposed joint venture (JV) will combine Franklin Templeton’s exchange-traded-funds (ETF) capabilities with SBI’s distribution and reach in the Japanese market.
Jenny Johnson, President and CEO of Franklin Templeton, said: “We are excited to collaborate with SBI Holdings, a leading online financial conglomerate in Japan.”
“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.”
“This strategic partnership underscores our shared belief that best-in-class financial capabilities should be more accessible for investors. It also represents a tremendous step forward to broaden our client reach and solidify our commitment in the market.”
As regulations related to digital assets and ETFs continue to evolve in Japan, Franklin Templeton said the proposed JV will enable new synergies using its experience with tokenized money market funds and digital assets-backed ETFs in the U.S.
Yoshitaka Kitao, chairman, president and CEO of SBI Holdings, said: “We are very pleased to establish an asset management company in Japan as a JV with Franklin Templeton, a leading global investment management firm with 77 years of corporate history and tradition, as well as a strong track record in investment performance.”
Franklin Templeton has over $1.6trn in assets under management and roughly $27bn in assets under its global ETF platform.
“SBI Group has been focusing on serving the interest of its customers as its primary mission since its inception,” Kitao said.
“We are also proud of being a fast-rising financial group in Japan leveraging technology as one of its key sources of growth, and promoting various businesses related to Web3.”
“We look forward to partnering with Franklin Templeton whose business includes focus on digital assets and provision of industry leading digital asset technology.”
