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.