Franklin Templeton Just Threw $8 Million at Crypto. Here’s Why You Should Care… Or Not.
So, Franklin Templeton—yeah, that big global asset manager who’s suddenly all about crypto—has decided to back an $8 million seed round for this stablecoin project called Cap. Why? Who knows. Maybe they like the idea of pretending to be all techy and futuristic. 🙄
They’re leading the investment, of course, like any good asset manager would, because that’s what they do when they want to look cutting edge. Cap, the Ethereum-based stablecoin (a fancy way of saying “cryptocurrency that’s supposed to be stable”), has also managed to rope in some other “web3-focused” venture capital firms. Sounds impressive, right?
According to Cap, this investment is “crucial” (how many times have we heard that word?) for their big dream of solving the problem of yield generation in decentralized finance. Yeah, that’s their “mission”—as if no one else is trying to do that. They’re also putting their protocol out there on “shared security markets,” like EigenLayer and Symbiotic. Whatever that means.
“Cap is pioneering a first-of-its-kind implementation of shared security markets like EigenLayer and Symbiotic to regulate the activities of financial operators. This allows traditional finance institutions and crypto-native firms to generate yield for users, while not directly exposing those users to the risks of their activities,” Cap’s team said on X (or Twitter, whatever).
So, what’s their big idea? Apparently, Cap’s solution is for people who want to “tap into shared security marketplaces.” Yes, “tap into.” Sounds very technical and almost too good to be true. They claim you can make some money off your Ethereum-staked assets without getting burned. Also, their main focus is on something called MegaETH. No, that’s not a superhero, it’s their layer 2 thing for “real-time interaction” with all the shiny new opportunities in the crypto ecosystem. Real-time. Like your grandma, probably, after you explain it to her for the 5th time.
Apparently, they think they can beat those other yield-bearing stablecoins with something “safe and sustainable.” You know, the ones that have already been around for a while and haven’t exactly set the world on fire. 🙃
Now, because why not, Cap has decided to offer yield generation via its stablecoin engine. This somehow allows them to spread their wings across DeFi protocols, real-world asset protocols, and—get this—liquid funds. Because, sure, that’s what the world needs: more “liquid funds.”
And finally, with $8 million in the bank, this startup can now take the next step in its adoption. That’s after they raised a whopping $1.1 million from some crowdfunding project called Echo (don’t ask me, I’m just reading what they put out there). This round also came with the help of VC firms like Triton Capital, Flow Traders, GSR, and even Nomura Group’s Laser Digital. Big names, people. Big names. 🙄
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2025-04-07 22:49