News Summary

• The future of asset management is shifting on-chain, but the transition is exposing a major structural conflict over traditional corporate revenue.
• Jenny Johnson, CEO of Franklin Templeton, openly addressed the industry hesitation to deploy decentralized networks.
• She explained that if a blockchain can handle settlement instantly via a smart contract, large banks can no longer collect transaction fees as third-party intermediaries.
• The shift of institutional wealth into digital assets will depend entirely on building standard, low-cost compliance rails for legacy investment funds.