Franklin

Million

Giant

Polygon

Stellar

Franklin Templeton, a renowned asset manager, has taken a significant step towards innovation by tokenizing a $380 million treasury fund on the Polygon and Stellar blockchains. This move enables peer-to-peer (P2P) transfers without the need for intermediaries.
<h2 id="franklin-templeton-sets-up-380-million-us-government-monetary-fund-in-polygon-and-stellar">Franklin Templeton Sets Up $380 Million US Government Monetary Fund in Polygon and Stellar</h2>
The newly launched Franklin OnChain United States Government Money Fund (FOBXX) offers shares in the form of BENJI tokens. Each BENJI token represents one share of the FOBXX fund and can be traded on the public Polygon and Stellar blockchains.
By tokenizing the FOBXX fund, Franklin Templeton aims to simplify transactions and expand access, allowing investors to manage their assets more flexibly through direct exchange.
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This innovative approach is expected to increase liquidity and efficiency in asset management operations.
Franklin Templeton's integration of blockchain technology into its financial operations underscores the growing demand among financial institutions to combine traditional financial structures with modern technological solutions.
Tokenization of government securities and other assets marks a significant advancement in digital asset management, offering greater transparency, security and efficiency to investors.
The move also positions Franklin Templeton to compete directly with BlackRock's tokenization efforts.
BlackRock recently introduced the BUIDL fund, which focuses on tokenizing US Treasury securities on Ethereum, in collaboration with Securitize.
*This is not investment advice.
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After BlackRock, Another Investment Giant Is Moving Traditional Finance to Blockchain! Here are the Details

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