Franklin Templeton Launches First Tokenized Money Market Fund on Ethereum

Franklin Templeton has unveiled the first-ever tokenized money market fund on the Ethereum blockchain, marking a significant milestone in the fusion of traditional finance and blockchain technology.

The fund, known as Franklin OnChain U.S. Government Money Fund (FOBXX), leverages Ethereum’s smart contract platform to track transactions and share ownership via a public blockchain system. Investors can access the fund through the Benji Investments mobile app, where each share of FOBXX is represented by a BENJI token.

The announcement, made on social media, emphasized the integration of Ethereum’s scalable and decentralized infrastructure with traditional financial products.

Currently, the FOBXX fund invests nearly all of its assets in U.S. government securities, cash, and repurchase agreements, with over $429 million in total net assets as of October 31.

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Franklin Templeton, a global asset manager with $1.7 trillion in assets, has already rolled out the tokenized fund on several other blockchain platforms, including Coinbase’s Base. This move cements the firm’s position as a pioneer in the growing field of blockchain-based financial products.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.