Franklin Templeton Expands Digital Fund to Avalanche Blockchain

Franklin Templeton has extended its Franklin OnChain US Government Money Fund to the Avalanche blockchain, marking the first on-chain money market fund on this network.

Launched in 2021, the fund allows institutional investors to use Franklin Templeton’s blockchain-based system, Benji Investments, with the option to hold assets on Avalanche if eligible.

This expansion aligns with Franklin Templeton’s ongoing digital asset strategy, which has focused on blockchain since 2018.

Ava Labs president John Wu praised the move, highlighting the firm’s commitment to developing innovative digital financial products and services that bridge traditional finance with blockchain technology.

In addition to expanding to Avalanche, Franklin Templeton recently filed to launch the Franklin Crypto Index ETF with the U.S. Securities and Exchange Commission, aiming to provide a comprehensive crypto portfolio.

The firm also launched its fund on the Arbitrum network in early August, further blending traditional and decentralized finance. With the addition of Avalanche, Franklin Templeton now offers tokenized shares on four major networks: Avalanche, Arbitrum, Stellar, and Polygon.