Franklin Templeton launches tokenized money market fund on Solana
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25.02.2025
Franklin Templeton, which has $1.6 trillion in assets under management, has added new blockchain support for its tokenized money market fund Franklin OnChain US Government Money Fund (FOBXX)
Franklin Templeton's FOBXX is now available on the Solana (SOL) blockchain, the asset manager said in an official statement.FOBXX expands to Solana
According to rwa.xyz, FOBXX, launched in 2021, now ranks third among all tokenized money market funds. Its total asset value recently reached $600 million. FOBXX is the world's first mutual fund to use blockchain to process transactions and record share ownership. Each share of the fund is represented by a BENJI token. A mutual fund is an investment fund that collects money from multiple investors and uses it to buy various assets (stocks, bonds, real estate, etc.). Investors get the opportunity to invest in a variety of assets without managing them directly. FOBXX was initially available on Arbitrum (ARB), Base from Coinbase, Polygon (POL), Ethereum (ETH), Avalanche (AVAX) and Aptos (APT). Meanwhile, the fund's main blockchain platform is Stellar (XLM)“The new network is unlocked. BENJI is now available on Solana! Solana is a fast, secure and censorship-resistant Tier 1 blockchain platform that promotes global adoption through its open infrastructure,” Franklin wrote on X (formerly Twitter).Franklin Templeton continues to expand its presence in the crypto market. Last year, the company launched spot exchange traded funds (ETFs) based on bitcoin (BTC) and Ethereum (ETH). In February this year, the firm also registered a Solana-ETF-related trust in Delaware, US. Earlier, the U.S. Securities and Exchange Commission (SEC) approved combined BTC and ETH ETFs from Hashdex and Franklin Templeton.
Prospects for the RWA sector
Meanwhile, the tokenized real-world asset (RWA) sector continues to grow strongly. In terms of growth rates, it has become the leader of the beginning of 2025. Since January, RWA market capitalization has grown by 10%. Over the last month, the indicator jumped by 27.3%.