Investment Giant Franklin Templeton Expands Its On-Chain Money Market Fund to Ethereum (ETH)

The world’s first tokenized cash market fund is now on the Ethereum (ETH) layer good contract platform.

In a submit on social media platform X, international asset supervisor Franklin Templeton stated announces launching its Franklin OnChain US Authorities Cash Fund (FOBXX) on the main good contract platform.

Franklin OnChain US Authorities Cash Fund makes use of public blockchain as a file system to trace transactions and share possession. Traders use the Benji Investments cellular app to put money into the fund. One FOBXX share is the same as one BENJI token.

“New chain unlocked. BENJI is stay now Ethereum!

Ethereum, the second largest Layer-1 (L1) blockchain know-how, is designed to be scalable, safe, programmable and decentralized.”

FOBXX invests over 99% of its complete belongings in US Treasury securities, money and repurchase agreements. As of October 31, the fund has complete internet belongings of $429.74 million.

FOBXX is already supported on plenty of blockchains. Franklin Templeton just lately expanded its cash market fund to crypto change Coinbase’s blockchain Base, making the funding big with $1.7 trillion in belongings underneath administration (AUM) the primary asset supervisor to construct a tokenized fund on the platform.

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