TechFlow news, October 31 — According to CoinDesk, asset management giant Franklin Templeton has expanded its on-chain U.S. Treasury money market fund (FOBXX) to Coinbase's Layer 2 blockchain Base, becoming the first asset manager to establish a presence on the platform. The fund, with a market value of $410 million, is now available across five blockchains including Stellar, Aptos, Avalanche, Arbitrum, and Polygon, with Stellar serving as the primary network.
Since its launch in 2022, Base has grown rapidly and now boasts a total value locked (TVL) exceeding $8 billion, second only to Arbitrum. Launched in 2021, FOBXX was the first money market fund to record transactions and ownership on a public blockchain and is currently the second-largest tokenized fund by market capitalization.
