CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
coinpedia 2025-02-12 15:24:56

Franklin Templeton Launches OnChain US Government Money Fund on Solana

The post Franklin Templeton Launches OnChain US Government Money Fund on Solana appeared first on Coinpedia Fintech News In an X post, Franklin Templeton announced that its Franklin OnChain US Government Money Fund (FOBXX) is now live on the Solana network. The asset manager highlighted Solana’s speed, security, and censorship-resistance, promoting global adoption through its open infrastructure. FOBXX, which aims to maintain a stable $1 share price like a stablecoin, the fund is already available on the Ethereum, Base, Polygon, Avalanche, Aptos, and Arbitrum networks. Its first blockchain integration was with Stellar, about four years ago. Notably, the fund invests at least 99.5% of its total assets in U.S. government securities, cash and repurchase agreements collateralized fully by U.S. government securities or cash. The launch of the money fund on Solana comes a day after Franklin Templeton filed in Delaware for a Solana ETF. This move likely signals that the asset manager may soon file with the US SEC to offer a Solana ETF. Besides, recently in a CNBC interview, Anthony Scaramucci said that he’s putting his money on Solana. He noted that while his firm holds some Ethereum, he’s more bullish on Solana due to its low fees and fast transaction speeds. He believes Solana will lead the way in tokenization, especially if traditional financial assets like stocks and bonds are tokenized. He added that Solana would be the obvious choice in that scenario.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.