Franklin Templeton expands tokenized money market funds to the Avalanche network

ChainCatcher message, asset management giant Franklin Templeton announced the expansion of its on-chain U.S. government money market fund (FOBXX) to the Avalanche network. The fund is represented by the BENJI token and is currently traded on Stellar, Polygon, and Arbitrum.

Franklin Templeton's Head of Digital Assets, Roger Bayston, stated that this move will further broaden the use of its innovative tokenized money market fund. FOBXX was established in 2021 and is the first U.S. registered mutual fund to record transactions on a public blockchain, investing in low-risk U.S. government securities. It is the second-largest tokenized fund, following BlackRock's BUIDL project. Currently, the management scale of tokenized government securities has reached $1.8 billion.