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BTC Pulse 2025-02-12 21:45:07

Franklin Templeton Gets into Money Market Fund Expansion to Solana

Tokenized Fund Launches On Solana Franklin Templeton continued its strategy of integrating with the blockchain by officially extending its tokenized money market funds to Solana (SOL-offering his market). With the Franklin OnChain U.S. Government Fund (FOBXX), investors can access U.S. government-backed assets on-chain. New Block Usage for Benji By revealing an update via its Digital Assets account on X ( formerly Twitter ), Franklin Templeton signaled that Benji, the investment platform for FOBXX, now supports Solana. The fund launched on Stellar and has expanded to Ethereum, Avalanche, Arbitrum, Base, Polygon, and Aptos. This is How FOBXX Works FOBXX is a tokenized money market fund that holds at least 99.5% of its assets in U.S. government securities, cash, and repurchase agreements. Like traditional money market funds, this fund maintains a stable $1 share price, while piggybacking on blockchain to provide enhanced operating efficiencies and greater accessibility. Institutional Adoption of Tokenized Treasury Grows Franklin Templeton is among the increasing number of asset managers adopting tokenized treasury strategies on more than one blockchain. Among those have begun to offer plans similar to those of BlackRock, Hashnote, Ondo, and OpenEden: BUIDL from BlackRock-active at Aptos, Arbitrum, Avalanche and Optimism. USDY from Ondo-live at Solana, Ethereum, Mantle and Aptos. Tokenization Market Exceeds $3.6 Billion The tokenized U.S. Treasury market is above $3.6 billion and continues climbing upwards as more big institutions ramp up demand. Here are the leaders in terms of market capitalization: Hashnote’s Short Duration Yield Note: $1.1 billion BlackRock’s BUIDL: $636 million Franklin Templeton’s FOBXX: $593 million Ondo’s USDY: $383 million Institutional Interest in Tokenization Continues to Evolve On the other hand, beyond Treasuries, the on-chain real-world asset (RWA) market has already crossed the $17.2 billion mark, with 110 issuers offering corporate bonds, equities, and commodities. Rapidly becoming one of the main pillars of institutional finance, tokenization is expected to play an important role in the future.

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