Franklin

Franklin OnChain U.S. Government Money Fund

Polygon

Stellar

Franklin Templeton enables peer-to-peer transfers for its $380 million money market fund via its BENJI token on Stellar and Polygon blockchains.
The Franklin OnChain U.S. Government Money Fund (FOBXX) investors can now transfer the fund’s BENJI token directly between each other without any intermediary.
The token, available on the Stellar (<a href="https://crypto.news/price/stellar/" data-type="link" data-id="https://crypto.news/price/stellar/" rel="noopener noreferrer nofollow">XLM</a>) and Polygon (<a href="https://crypto.news/price/polygon/" data-type="link" data-id="https://crypto.news/price/polygon/" rel="noopener noreferrer nofollow">MATIC</a>) blockchains, represents shares in the fund that holds government securities, cash, and repurchase agreements, providing a steady yield to token holders.
<a href="https://www.franklintempleton.com/press-releases/news-room/2024/franklin-templeton-announces-availability-of-peer-to-peer-transfers-for-franklin-onchain-u.s.-government-money-fund" data-type="link" data-id="https://www.franklintempleton.com/press-releases/news-room/2024/franklin-templeton-announces-availability-of-peer-to-peer-transfers-for-franklin-onchain-u.s.-government-money-fund" target="_blank" rel="noopener noreferrer nofollow">According</a> to Jason Chlipala, chief business officer of Stellar Development Foundation, enabling peer-to-peer transfers puts <a href="https://crypto.news/tag/franklin-templeton/" data-type="link" data-id="https://crypto.news/tag/franklin-templeton/" rel="noopener noreferrer nofollow">Franklin Templeton</a> at the forefront of the financial sector, promoting openness, transparency, and accessibility.
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 We’re excited to announce peer-to-peer transferability for the yield-bearing BENJI security token! This new feature will provide users the ability to send BENJI tokens to other BENJI holder’s digital wallets. One BENJI security token is a share of the Franklin OnChain U.S.… <a href="https://t.co/WFhsCyx0BQ" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/WFhsCyx0BQ</a>— Franklin Templeton Digital Assets (@FTI_DA) <a href="https://twitter.com/FTI_DA/status/1783483443382214771?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">April 25, 2024</a>
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This development is important as it enhances the token’s utility. It could potentially facilitate trading on secondary markets or serve as collateral for loans in decentralized finance (<a href="https://crypto.news/tag/defi/" data-type="link" data-id="https://crypto.news/tag/defi/" rel="noopener noreferrer nofollow">defi</a>) platforms.
Roger Bayston, head of digital assets at Franklin Templeton, emphasized the importance of integrating blockchain-based assets seamlessly into the broader digital asset ecosystem. Tokenized U.S. Treasuries represent a growing trend in bringing traditional financial assets to blockchain rails, with the market for such assets reaching $1.2 billion, according to <a href="https://app.rwa.xyz/treasuries" data-type="link" data-id="https://app.rwa.xyz/treasuries" target="_blank" rel="noopener noreferrer nofollow">rwa.xyz</a> data.
BENJI, launched in 2021, holds the largest market capitalization among similar offerings, with newcomers like <a href="https://crypto.news/ondo-finance-unveils-on-chain-us-treasuries/" data-type="link" data-id="https://crypto.news/ondo-finance-unveils-on-chain-us-treasuries/" rel="noopener noreferrer nofollow">Ondo Finance</a> and <a href="https://crypto.news/blackrock-digital-asset-ethereum/" data-type="link" data-id="https://crypto.news/blackrock-digital-asset-ethereum/" rel="noopener noreferrer nofollow">BlackRock’s BUIDL</a> fund, with Securitize gaining ground by allowing peer-to-peer token transfers.
Read more: <a href="https://crypto.news/woo-x-launches-tokenized-us-treasury-bills-for-retail-investors/" rel="noopener noreferrer nofollow"> Woo X launches tokenized US Treasury bills for retail investors </a>

Franklin Templeton enables P2P transfers for $380m tokenized treasury fund

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