Asset management giant Franklin Templeton launches money market fund on Polygon

ChainCatcher news, the fund management company Franklin Templeton, which manages approximately $1.4 trillion in assets, announced that the Franklin OnChain U.S. Government Money Market Fund (FOBXX) is the first mutual fund registered in the U.S. to use public blockchain for processing transactions and recording shares, and it has now launched on Polygon.

It is reported that Franklin Templeton invests at least 99.5% of its total assets in government securities, cash, and repurchase agreements fully collateralized by government securities or cash. One share of the Franklin OnChain U.S. Government Money Market Fund is represented by one BENJI token. Token holders can access the fund in their digital wallets through the Benji Investments app available in mobile app stores. (Source link)