Franklin Templeton Tokenizes US Gov Funds On Polygon, Stellar

Top class investment management company Published by Franklin Templeton Availability of Franklin Onchain United States Government Monetary Fund (FOBXX) shares on the blockchain.

Franklin Templeton ties stock to BENJI token

As announced, peer-to-peer transfers of tokenized shares of FOBXX funds on the public blockchain are now possible. In particular, one share of the fund is equivalent to one BENJI token, an asset registered on both the Polygon and Stellar blockchains. As such, investors can access the fund through his Benji Investments app, which is available in both his Google and Apple stores.

The official record of share ownership, through a proprietary integrated system that uses blockchain technology for trading activities, remains under the control of the Fund’s transfer agent.

franklin templeton It has a market share of 32%, according to data compiled by asset management company 21.co. This puts the investment management firm well ahead of other organizations in the tokenized U.S. Treasury niche. Additionally, this outlook is supported by his assets under management (AUM) of over $360 million.

In the long term, Franklin Templeton is considering partnering with other digital asset ecosystems to operate the Franklin On-Chain US Government Fund. The company wants to focus its main investments on government bonds and related products. The ultimate goal is to maintain a stable stock price of $1.

Franklin Templeton to compete with BlackRock

It is worth noting that this Franklin Templeton fund is in close competition with the new BUIDL fund, which has been tokenized in partnership with BlackRock. Securitization with Ethereum. His BUIDL fund at BlackRock was the investment giant’s first foray into the tokenization niche. Outside investors must invest a minimum of $100,000 to participate in the Fund.

BUIDL captured about 25% of the market within a month of launch, but its $304 million in assets under management is just below Franklin Templeton. Depending on how much market share each of these investment firms is able to capture, competition between BlackRock and Franklin Templeton could become even more intense.

Both investment management companies recently became the second issuers of spot Bitcoin ETFs in the US. The SEC gave the green light to this proposal.. They are also seeking committee approval for the potential. Spot Ethereum ETF.

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