Franklin Templeton CEO: Blockchain Threatens Wall Street Profits

Franklin Templeton CEO Jenny Johnson stated that blockchain technology poses a significant threat to traditional financial business models, according to CoinDesk. Speaking at the Proof of Talk summit in Paris, Johnson highlighted that major financial firms are hesitant to adopt public blockchains due to the potential disruption to their fee-based models. She cited Franklin Templeton's tokenized money market fund, Benji, which operates on the Stellar blockchain, as an example of how public networks can offer dramatically cheaper transaction costs compared to legacy systems. Johnson emphasized that while blockchain enables self-custody, most investors will still prefer regulated custodians as institutional wealth transitions to digital assets.