EddieJayonCrypto

 12 Feb 25

tl;dr

Franklin Templeton has launched its tokenized money fund, "Franklin OnChain US Government Money Fund" (FOBXX), on Solana, making it available on eight different blockchains. The fund invests 99.5% of its assets in US government securities, cash, and collateralized repurchase agreements, offering a 4...

Franklin Templeton has launched its tokenized money fund, "Franklin OnChain US Government Money Fund" (FOBXX), on Solana, making it available on eight different blockchains. The fund invests 99.5% of its assets in US government securities, cash, and collateralized repurchase agreements, offering a 4.55% annual percentage yield.


With a market cap of nearly $594 million and 544 holders, FOBXX is the third-largest tokenized money fund. The integration on Solana aims to boost the network's tokenized money fund ecosystem, which has seen $136 million in tokenized shares issued on Solana as of Feb. 11.


Overall, the tokenized money fund sector experienced 415% growth in 2024, reaching a market cap of nearly $4 billion, with Ethereum dominating the market. Ethereum hosts over $2.4 billion in tokenized shares, followed by Stellar with nearly $380 million in digital money fund share versions.

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