What happens when traditional finance and decentralized finance collide? Join us in this insightful interview with Sandy Kaul, Head of Innovation at Franklin Templeton, as we explore the firm’s groundbreaking crypto experiments, DeFi-enabled opportunities, and the future of tokenized money market funds.
Key Topics Covered
Franklin Templeton’s onchain money market fund
How evolving crypto infrastructure is reshaping TradFi
New TradFi products enabled by crypto
Tokenization vs. stablecoins
Supply chain and enterprise resource management powered by DeFi
Regulation, obstacles, and the merging of TradFi and DeFi
Get a front-row seat to how one of the world’s leading financial institutions is driving innovation in the space.
Chapters:
00:00 Defiant Intro
01:04 Introduction to Sandy Kaul, Head of Innovation at Franklin Templeton
06:56 Franklin Templeton experimenting with crypto to save costs
08:11 Franklin Templeton’s onchain money market fund
09:26 Evolving crypto infrastructure from 2019 to today
11:42 What do institutions look for when planning to launch a product onchain?
13:41 Choosing blockchains based on use cases
16:15 Three new TradFi offerings enabled by crypto
19:56 Additional applications for DeFi: supply chain management
21:56 Additional applications for DeFi: enterprise resource management systems
22:49 Tokenized money market funds vs. stablecoins
25:11 Product bundles and asset classes
28:31 Obstacles to offering more crypto products
31:26 What clarity are you looking to regulation for?
34:16 Complex DeFi products being accepted in TradFi
35:13 DeFi and TradFi need to support one another
37:04 Regulation will open up new pools of assets and value
38:56 What will the merging of TradFi and crypto look like?
41:10 Will the back of house for these firms move onchain?
42:55 Consumer demand for crypto products
47:15 Payments outside of fiat
48:34 Incorporating crypto into Franklin Templeton model portfolios
50:35 What is the demand for current crypto offerings?
54:30 What does success look like for Franklin Templeton?
55:30 Closing Remarks
✨ DEBRIEF | Ryan and David unpacking the episode: https://bankless.com/debrief-franklin-templeton
Franklin Templeton Has Entered the Chat. More broadly TradFi has entered the chat. Franklin Templeton is a TradFi company with $1.5 trillion in assets. We brought on their SVP Sandy Kaul, who is a turbo crypto bull.
What’s Franklin Templeton? It’s an investment management company (think mutual funds, ETFs) that manages over $1.5 Trillion in assets. This is what we in crypto affectionately refer to as TradFi and they recently came out with a BTC ETF and have big plans for future tokenization. They also seem to be incredibly bullish on crypto and this new intersection between crypto and TradFi. This is exactly what we wanted to explore with Sandy today.
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------ TIMESTAMPS
0:00 Intro 7:18 Explaining Crypto to TradFi 13:45 Why TradFi Waited 21:58 Explaining Tokens & Franklin Templeton’s Future Use 31:55 The Chameleon Asset 39:30 What’s Preventing Franklin Templeton? 46:27 Advice For Founders 48:37 Regulation Vibe Check 54:30 Countering Crypto Critiques 1:00:00 BTC & ETH ETF 1:12:16 Under or Over-Rated 1:15:00 Sandy’s Crypto Story 1:17:30 Franklin Templeton’s Twitter 1:19:20 Closing & Disclosures
------ RESOURCES
Franklin Templeton’s Twitter https://twitter.com/FTI_US
Sandy Kaul https://www.linkedin.com/in/sandy-kaul-8571877/
------ Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://www.bankless.com/disclosures