Franklin

Arbitrum

United

Base

BlackRock

Franklin Templeton is launching its tokenized money fund on Base, Coinbase’s layer-2 network, the asset manager said on Oct. 31.
The Franklin OnChain US Government Money Fund (FOBXX) is the first tokenized fund to launch on Base, Franklin Templeton said in a <a data-ct-non-breakable="null" href="https://x.com/FTDA_US/status/1851991262422843444" rel="null" target="null" text="null" title="https://x.com/FTDA_US/status/1851991262422843444">post</a> on the X platform.
Created in 2021, FOBXX has previously launched on blockchain networks including Stellar, Polygon and Arbitrum. 
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 RWA value by segment. Source: <a data-ct-non-breakable="null" href="https://app.rwa.xyz/" rel="nofollow noopener" target="_blank" text="null" title="https://app.rwa.xyz/">RWA.xyz</a>
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<h1 id="em-strong-related-strong-em-a-data-ct-non-breakable-null-href-https-cointelegraph-com-news-franklin-templeton-tokenized-money-fund-arbitrum-rel-target-_self-text-null-title-https-cointelegraph-com-news-franklin-templeton-tokenized-money-fund-arbitrum-em-strong-franklin-templeton-s-tokenized-money-fund-launches-on-arbitrum-strong-em-a">Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/franklin-templeton-tokenized-money-fund-arbitrum" rel="" target="_self" text="null" title="https://cointelegraph.com/news/franklin-templeton-tokenized-money-fund-arbitrum">Franklin Templeton’s tokenized money fund launches on Arbitrum</a></h1><advertisement>
 Franklin Templeton is unique among tokenized fund managers in outsourcing a meaningful portion of reporting requirements — such as share ownership records typically handled by an offchain transfer agent — to blockchain networks’ public ledgers.
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 “We are currently the only product with the ability to use public distributed ledger technologies for official transaction record-keeping,” Roger Bayston, Franklin Templeton’s head of digital assets, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/exclusive-franklin-templeton-mulls-bringing-rwas-ethereum-user-managed-wallets" rel="null" target="null" text="null" title="https://cointelegraph.com/news/exclusive-franklin-templeton-mulls-bringing-rwas-ethereum-user-managed-wallets">told Cointelegraph in July</a>.
 The launch of FOBXX on Base indicates United States regulators consider Base’s public ledger to be a legitimate instrument for financial recordkeeping.
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Money funds generate low-risk yields for investors by holding highly liquid assets such as short-dated Treasury bills and commercial paper. 
Franklin Templeton’s FOBXX currently has net assets of approximately $435 million and has been generating annualized returns of about 4.7% as of October 2024.
It is accessible through Franklin Templeton’s Benji Investments platform.<advertisement>
 The Base launch marks Franklin Templeton’s latest effort to enhance the accessibility of its tokenized real-world assets (RWAs). 
 Since its 2023 launch, Base has emerged as Ethereum’s second most popular layer-2 scaling solution, with a total value locked (TVL) of approximately $8 billion, <a data-ct-non-breakable="null" href="https://l2beat.com/scaling/summary" rel="null" target="null" text="null" title="https://l2beat.com/scaling/summary">according</a>&nbsp;to L2Beat.
 Arbitrum leads with upward of $13 billion in TVL, the data shows.
 Tokenized RWAs — from money funds to artworks — represent a $30-trillion market opportunity globally, Colin Butler, Polygon’s global head of institutional capital,&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/institutional-grade-stablecoins-may-killer-app-crypto" rel="null" target="null" text="null" title="https://cointelegraph.com/news/institutional-grade-stablecoins-may-killer-app-crypto">told Cointelegraph in August</a>.
 Demand is surging for products that tokenize T-bills and other highly liquid yield-bearing assets.
 FOBXX’s top rival is <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/blackrocks-buidl-becomes-worlds-largest-tokenized-treasury-fund" rel="null" target="null" text="null" title="https://cointelegraph.com/news/blackrocks-buidl-becomes-worlds-largest-tokenized-treasury-fund">BlackRock USD Institutional Digital Liquidity Fund</a>, with assets under management of approximately $530 million, according to data from RWA.xyz.
 Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/celsius-alex-maskinsky-ftx-sam-bankman-fried-court-inner-city-press-x-hall-of-flame/" rel="null" target="null" text="null" title="https://cointelegraph.com/magazine/celsius-alex-maskinsky-ftx-sam-bankman-fried-court-inner-city-press-x-hall-of-flame/">‘Less flashy’ Mashinsky set for less jail time than SBF: Inner City Press, X Hall of Flame</a>
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Franklin Templeton launches tokenized money fund on Base

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