Japan'sSBI Holdings(OTC:SBHGF) has teamed up with U.S. investment firmFranklin Resources Inc.'s (NYSE:BEN) subsidiaryFranklin Templetonto establish a digital asset management company. This venture aims to prepare for the potential approval ofBitcoin(CRYPTO: BTC) and cryptocurrency exchange-traded funds in Japan.

What Happened: The new company, in which SBI will hold a 51% stake and Franklin Templeton the remaining 49%, is set to launch as early as this year. With approximately $1.6 trillion in assets under management, Franklin Templeton is the world's seventh-largest asset manager, reported Nikkei on Friday.

While Franklin Templeton...