LHoFT Appoints Franklin Templeton Executive to Accelerate Luxembourg's Digital Asset Leadership and FinTech Ecosystem Growth

The Luxembourg House of Financial Technology (LHoFT) is excited to announce the appointment of Craig Blair, Senior Vice President and Luxembourg Country Head at Franklin Templeton, to its Board of Directors. The appointment marks a significant milestone in advancing Luxembourg's position as a global leader in financial technology innovation and digital asset development.

Franklin Templeton has emerged as the asset management industry's blockchain trailblazer, recently launching the Franklin OnChain U.S. Government Money Fund, the first Luxembourg-domiciled fully tokenized UCITS product on a public blockchain and using the firm’s proprietary inhouse technology. This follows Franklin Templeton’s groundbreaking launch of the FOBXX tokenized money market fund in the U.S. in 2021; the world’s first such offering from a major asset manager on a public blockchain.

Driving Fund Innovation

This appointment comes at a decisive phase as Franklin Templeton continues to lead the asset management industry in blockchain adoption and tokenized fund innovation around the world. Their groundbreaking Franklin OnChain U.S. Government Money Fund uses their proprietary inhouse blockchain enabled transfer agency platform, giving investors the benefits of enhanced transparency, security, accuracy and immediacy made possible by blockchain technology.

Regarding Blair's appointment, Nasir Zubairi, LHoFT CEO, stated: “Craig’s appointment strengthens the bridge between traditional asset management and emerging digital finance. I am very grateful that he has accepted to join our board and welcome the contribution that his experience and leadership will bring.”

Leading Digital Asset Innovation

Franklin Templeton’s Luxembourg-based tokenized UCITS fund, built on the Stellar blockchain, is now available to institutional investors across Austria, France, Germany, Italy, Liechtenstein, the Netherlands, Spain, and Switzerland. This follows the success of its U.S.-based tokenized MMF, which has grown to over $512 million in AUM across eight public blockchains, making it the third-largest globally.

As Franklin Templeton deepens its commitment to digital assets and blockchain innovation, Craig Blair discusses the firm’s strategic vision and his new role advancing fintech as a Board Member at LHoFT:

“We are tremendously excited to join the LHoFT and become further immersed in the thriving financial technology ecosystem in Luxembourg. 

Financial Services are changing at a rapid pace. Advances across AI, blockchain, APIs and cloud technology will fundamentally change the way the asset management industry operates, and how advisors, institutions and investors think about their investment portfolios.  In the next 5 years, we'll likely see more progress in re-architecting financial market infrastructure than we've seen across all of the last 50.  

Franklin Templeton is a leader in this new digital revolution and becoming a partner member of the LHoFT reinforces our long-standing 35-year commitment to Luxembourg and the belief it will be a centre of expertise for emerging technologies and financial services.”

Strategic Partnership for Luxembourg's FinTech Ecosystem 

With Blair’s appointment to the Board, Franklin Templeton and LHoFT deepen their collaboration with the aim of transforming Luxembourg into Europe's premier FinTech destination. This union of traditional asset management expertise and innovation infrastructure directly advances LHoFT's operational framework:

• Ecosystem Development: Fostering new ideas and dynamic alliances to build the economy of the future by empowering businesses to establish, scale, and thrive within Luxembourg's supportive ecosystem.

• Innovation Acceleration: Identifying critical business challenges and delivering tailored tech-driven solutions to advance digital transformation across Luxembourg's financial services sector.

• Knowledge Cultivation: Bridging skill gaps and accelerating FinTech adoption through comprehensive educational programs and expert insights.

Expanding Luxembourg’s Role in Alternatives

With over seven decades of unparalleled presence in Europe, including 35 years in Luxembourg, Franklin Templeton has solidified its position as the top provider of cross border funds with the distribution of its flagship Luxembourg UCITs range in 57 countries across the world.  The firm’s commitment to Luxembourg extends beyond digital assets. The firm recently launched the Franklin Lexington PE Secondaries Fund (Flex-I), a Luxembourg-domiciled evergreen private equity secondaries fund with $875 million in assets under management (AuM), targeting the international wealth channel. This is Franklin Templeton's first vehicle of this kind outside the U.S., demonstrating the firm's confidence in Luxembourg as a key hub for innovative financial products.

The Luxembourg fund represents a major expansion of Franklin Templeton's international private wealth business and underscores the firm's ambitions in the alternatives wealth market. Franklin Templeton currently manages over $252 billion in alternative assets.