TechFlow news — On August 22, asset management giant Franklin Templeton announced the expansion of its on-chain U.S. government money market fund (FOBXX) to the Avalanche network. Represented by the BENJI token, the fund is currently traded on Stellar, Polygon, and Arbitrum.
Roger Bayston, Head of Digital Assets at Franklin Templeton, said the move will further broaden access to its innovative tokenized money market fund. Launched in 2021, FOBXX was the first U.S.-registered mutual fund to use a public blockchain to record transactions. It invests in low-risk U.S. government securities and ranks as the second-largest tokenized fund after BlackRock's BUIDL. The total assets under management in tokenized government securities have now reached $1.8 billion.
