Japan's SBI Holdings and Franklin Templeton to set up asset management joint venture

(Reuters)- Japanese internet finance group SBI Holdings and global asset manager Franklin Templeton have signed a memorandum of understanding to set up an asset management joint venture in Japan, SBI said in a statement.

SBI will own 51% and Franklin Templeton 49% of the JV, which will offer digital asset securities among other investment products to Japanese investors, the statement said.

Franklin Templeton launched a spot bitcoin ETF in the U.S. in January and has also introduced other investment products based on blockchain technology, the statement said.