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Franklin Templeton Expands Blockchain Registration System Benji to Ethereum Layer-2 Scaler Base

Published

11 months ago

November 1, 2024

International funding agency Franklin Templeton’s proprietary blockchain-integrated registration system Benji is now on the cryptocurrency alternate Coinbase’s Base.

With the event, the Franklin OnChain US Authorities Cash Fund (FOBXX) – which invests not less than 99.5% of its complete property in US authorities bonds, money and repurchase agreements – can now be traded on the Ethereum (ETH) layer-2 chain .

Franklin Templeton reveals the enlargement on social media platform X,

“New chain unlocked. Benji, our proprietary blockchain-integrated archiving system, is now stay on Base! With this announcement, Franklin Templeton turns into the primary asset supervisor to construct a tokenized fund on Base.”

FOBXX makes use of blockchain know-how to course of transactions and file possession. The fund’s switch agent displays share possession utilizing Benji, which makes use of public blockchain networks for transaction actions.

Traders use the Benji app to spend money on the tokenized cash fund. One share of the Franklin OnChain US Authorities Cash Fund is the same as one BENJI token.

FOBXX launched in August on layer-1 Ethereum competitor Avalanche (AVAX). Roger Bayston, head of digital property at Franklin Templeton, stated bringing the fund to the community will enhance entry.

“We stay up for working with Avalanche’s vibrant developer neighborhood to carry new blockchain-enabled improvements to market.”

The fund can also be obtainable on XRP rival Stellar (XLM) community and layer-2 scaling options Arbitrum (ARB) and Polygon (MATIC).

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