Ethereum

Franklin

USDC

Avalanche

Stellar

<ul>
 <li>Franklin Templeton's fund gives investors access to U.S. treasuries using blockchain technology.</li>  
 <li>The Avalanche network ensures low costs and fast transfers for investors in the money fund.</li>  
 <li>The new system lets users exchange USDC for shares and make peer-to-peer transfers easily.</li> 
</ul>  
<p>Franklin Templeton, a global venture capital firm managing $1.6 trillion in assets, has introduced its OnChain U.S. Government Money Fund (FOBXX) on the Avalanche blockchain. This is the first U.S.-registered mutual fund to use blockchain technology for sales and share ownership. The launch marks a serious step in bringing blockchain into traditional finance.</p>  
<p>The $402 million fund is tokenized, with each share represented by a BENJI token. Investors can access these shares through the Benji Investments app, providing an efficient way to invest in U.S. treasuries through blockchain.</p>  
<h2 class="wp-block-heading" id="h-avalanche-integration-improves-access">Avalanche Integration Improves Access</h2>  
<p>Franklin Templeton chose the Avalanche network for its low fees and fast processing times. Business owners benefit from quicker access and lower costs. The blockchain integration also enables peer-to-peer share transfers, which are not possible in traditional finance.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/AbsGMCrypto/status/1837851759210860872
 </div>
</figure>  
<p>Additionally, users can exchange USDC stablecoin for FOBXX shares. This innovation allows for smoother blockchain investments and shows how financial institutions are adopting technology for greater efficiency.</p>  
<h2 class="wp-block-heading" id="h-growth-in-the-tokenized-treasuries-market">Growth in the Tokenized Treasuries Market</h2>  
<p>The tokenized U.S. <a href="https://cryptonewsland.com/bitcoin-bottom-imminent-1-2-billion-usdt-just-minted-by-tether-treasury/" target="_blank" rel="noopener noreferrer nofollow">Treasury </a>market is growing rapidly, with total value reaching over $1.92 billion. Ethereum leads the market with more than $1.3 billion in assets, while Stellar and Solana are also emerging as notable players, with $434 million and $48 million, respectively.</p>  
<p>Franklin Templeton’s FOBXX holds a market cap of over $424 million, ranking just behind BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), which holds $502 million. The growth of these funds shows the rising interest in tokenizing traditional financial products.</p>  
<h2 class="wp-block-heading" id="h-franklin-templeton-expands-digital-reach">Franklin Templeton Expands Digital Reach</h2>  
<p>Franklin Templeton has been involved in blockchain since 2018. The company has developed blockchain solutions and acts as a validator on various networks. It also uses data to shape strategies in the digital asset space.</p>  
<p>Recently, the firm expanded FOBXX’s reach by launching it on the Ethereum blockchain through Arbitrum, a solution designed to speed up transactions. This further shows Franklin Templeton’s commitment to embracing blockchain technology.</p> 
<p>The post <a href="https://cryptonewsland.com/franklin-templeton-introduces-blockchain-powered-money-fund-on-avalanche-network/" rel="noopener noreferrer nofollow">Franklin Templeton Introduces Blockchain-Powered Money Fund on Avalanche Network</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Franklin Templeton Introduces Blockchain-Powered Money Fund on Avalanche Network

Table of Contents

Crypto News Land

Other articles published on Sep 23, 2024

Google CEO Unveils $120M Fund for Global AI Education

Peter Schiff: Everybody Missing This Because of Bitcoin

Riot Platforms and Bitfarms Settle Dispute Ending Ongoing Tussle

Kamala Harris finally breaks silence on crypto: Report

Lagbit – Cryptocurrency Exchange Trusted by Millions of Traders

Coinpedia Fintech News

Join our free newsletter for daily crypto updates!