Real-World Assets (RWA) News: Franklin Templeton’s Onchain Money Market Fund on Aptos
Franklin Templeton Launches FOBXX on Aptos
Asset management mogul Franklin Templeton has launched its Franklin OnChain US Government Money Fund (FOBXX) on Layer-1 blockchain Aptos.
The collaboration signifies growing institutional interest in further integrating traditional finance (TradFi) into decentralized finance (DeFi).
Details of the Launch
The American multinational holding company’s on-chain US Government Money Fund FOBXX, represented by the BENJI token, is now live on Aptos. This means institutional investors can access the asset in their digital wallets via Franklin Templeton’s blockchain-integrated Benji Investments platform and BENJI token.
- The token received massive support at launch, recording more than $20 million in subscriptions upon debut.
- The frothing interest comes as it invests in low-risk US government securities with fixed, floating, and variable rates.
- It also repurchases agreements collateralized fully by US government securities or cash.
Eligibility for Investors
Noteworthy, Franklin Templeton’s FOBXX on Aptos is only available to eligible investors who can hold their wallets on the Aptos network, subject to request.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.