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Franklin Templeton, a global investment firm managing over $1.6 trillion in assets, has expanded its tokenized money market fund to Avalanche. 
Franklin Templeton <a href="https://www.avax.network/blog/franklin-templeton-launches-tokenized-money-market-fund-benji-avalanche" target="_blank" rel="">announced</a> on Aug. 22 that its OnChain U.S. Government Money Fund had extended to the Avalanche (<a href="https://crypto.news/price/avalanche/">AVAX</a>) blockchain to meet growing investor demand. 
This expansion follows Franklin Templeton’s recent <a href="https://crypto.news/franklin-templeton-launches-money-market-fund-on-arbitrum/">launch</a> its FOBXX fund on Ethereum (<a href="https://crypto.news/price/ethereum/">ETH</a>) layer-2 network Arbitrum (<a href="https://crypto.news/price/arbitrum/">ARB</a>). FOBXX is also available on Stellar (<a href="https://crypto.news/price/stellar/">XLM</a>) as well as Polygon (<a href="https://crypto.news/price/polygon/">MATIC</a>). 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “I’m thrilled to see the Avalanche platform supporting the Franklin OnChain U.S. Government Money Fund. Franklin Templeton shares a mutual commitment to developing transformative digital financial products and services that will meet on-chain investor demand today and bring off-chain capital and users into the ecosystem tomorrow.” 
 John Wu, President of Ava Labs. 
</blockquote> 
 Read more: <a href="https://crypto.news/franklin-templeton-enables-p2p-transfers-for-380m-tokenized-treasury-fund/"> Franklin Templeton enables P2P transfers for $380m tokenized treasury fund </a> 
<h2 class="wp-block-heading" id="investing-in-fobxx">Investing in FOBXX</h2> 
Franklin Templeton launched the money market fund in 2021, allowing investors to earn yield from U.S. treasuries. The firm uses its BENJI token to represent a single share of FOBXX, which investors can purchase using the USDC (<a href="https://crypto.news/price/usd-coin/">USDC</a>) stablecoin through their Benji wallets. Holders can also transfer their fund shares peer-to-peer on-chain. 
Roger Bayston, head of digital assets at Franklin Templeton noted that bringing the Benji platforms to Avalanche “further expands access to our first-of-its-kind tokenized money market fund.” 
<h2 class="wp-block-heading" id="the-tokenized-treasuries-market">The tokenized treasuries market</h2> 
The tokenized U.S treasuries market is on an upward trajectory, with data from real-world assets platform<a href="https://app.rwa.xyz/treasuries" target="_blank" rel=""> rwa.xyz</a> putting the total value of tokenized treasuries at over $1.92 billion as of Aug. 22. 
FOBXX has a market cap of over $424 million, behind the BlackRock USD Institutional Digital Liquidity Fund, or BUIDL, which currently leads with over $502 million. 
In terms of blockchain networks, Ethereum holds the vast majority of the market value at over $1.3 billion, while Stellar, Solana, and Mantle follow with $434 million, $48 million, and $30 million, respectively. 
 You might also like: <a href="https://crypto.news/ethena-rises-11-following-34m-proposal-from-blackrocks-buidl-distributor/"> Ethena rises 11% following $34m proposal from BlackRock’s BUIDL distributor </a>

Franklin Templeton brings tokenized money market fund to Avalanche

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