- Franklin Templeton tokenized $380 million in U.S. Treasuries and facilitated P2P transactions on Polygon and Stellar blockchains.
- The initiative will introduce the BENJI token, which represents a share of the newly created Franklin On-Chain U.S. Government Money Fund (FOBXX).
As confirmed in an April 26 PANews report, Franklin Templeton builds on its pioneering heritage by investing $380 million worth of Franklin Onchain U.S. Government Funds (FOBXX) on the Polygon blockchain. We have taken an important step by tokenizing it on the Stellar blockchain.
Echoing CEO Jennifer Johnson’s sentiments in a previous CNF report, the company is proud to be the first to deploy a fully on-chain fund on the Stellar network. The launch, highlighted by Bitget, a leading crypto copy trading platform, includes the launch of his BENJI token to facilitate direct trading without intermediaries, streamline asset management, and increase liquidity. Publication was included.
Adopt blockchain to increase transparency
As featured in the CNF YouTube video, the introduction of the BENJI token represents a major shift towards the adoption of blockchain technology in the financial industry. The move combines traditional financial mechanisms with advanced digital solutions to improve the transparency, security, and efficiency of digital asset management.
Impact on the virtual currency market
The integration of blockchain technology has transformed Franklin Templeton’s financial operations, streamlining processes and increasing efficiency in asset management. This strategic move is also having a positive impact on the crypto market, as evidenced by the recent spike in his MATIC price. 2.10% the past day 12.03% Past week, now $0.7258.
This strategic implementation of blockchain technology demonstrates Franklin Templeton’s commitment to enhancing flexibility and efficiency in financial services and setting a benchmark for other companies in the industry.
