🚨NEW: The @SECGov’s Division of Investment Management has issued a no-action letter to @FTDA_US, clearing the way for its registered funds to use its onchain money market fund (FOBXX) to manage cash, including collateral for securities lending. The relief allows Franklin Templeton to custody and record ownership of those fund shares through its blockchain-integrated system rather than comply with certain legacy rules designed for physical securities. Franklin says the structure can support intraday trading, hourly NAV calculations and faster transaction processing.(Eleanor Terrett)