Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Franklin Templeton Launches First Tokenized Money Market Fund on Ethereum

Franklin Templeton Launches First Tokenized Money Market Fund on Ethereum

Cryptodnes2024/11/16 19:00
By:Cryptodnes

Franklin Templeton has unveiled the first-ever tokenized money market fund on the Ethereum blockchain, marking a significant milestone in the fusion of traditional finance and blockchain technology.

The fund , known as Franklin OnChain U.S. Government Money Fund (FOBXX), leverages Ethereum’s smart contract platform to track transactions and share ownership via a public blockchain system. Investors can access the fund through the Benji Investments mobile app, where each share of FOBXX is represented by a BENJI token.

The announcement, made on social media, emphasized the integration of Ethereum’s scalable and decentralized infrastructure with traditional financial products.

Currently, the FOBXX fund invests nearly all of its assets in U.S. government securities, cash, and repurchase agreements, with over $429 million in total net assets as of October 31.

READ MORE:
Societe Generale Expands Stablecoin to XRP Ledger for Faster Cross-Border Payments

Franklin Templeton, a global asset manager with $1.7 trillion in assets, has already rolled out the tokenized fund on several other blockchain platforms, including Coinbase’s Base. This move cements the firm’s position as a pioneer in the growing field of blockchain-based financial products.

SHARE: SHARES
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Justin Sun Stands Firm: No Plans to Sell Ethereum Assets

In Brief Justin Sun insists on retaining Ethereum assets despite market downturns. Plans for collaborations with Ethereum developers aim to enhance Tron's vision. Strategic partnerships could strengthen Tron's market position moving forward.

Cointurk2025/04/18 22:44
Justin Sun Stands Firm: No Plans to Sell Ethereum Assets

Crypto Capo Predicts Bitcoin Surge as Market Signals Shift

In Brief Crypto Capo predicts a potential Bitcoin surge beyond $85,000. Render shows promise if it bounces back from its support level. Investors are advised to monitor market dynamics closely.

Cointurk2025/04/18 22:44
Crypto Capo Predicts Bitcoin Surge as Market Signals Shift