Franklin Templeton announced its expansion in asset tokenization by launching a tokenized fund on the Solana platform.
A New Step in Tokenization Advancement
Franklin Templeton has officially introduced its tokenized fund on the Solana blockchain. This move follows previous integrations on Aptos, Ethereum, Avalanche, Arbitrum, Base, and Polygon. Initially, the fund was launched on the Stellar blockchain, and now Solana is the latest blockchain to support this fund.
Features of Franklin OnChain U.S. Government Fund
The Franklin OnChain U.S. Government fund invests at least 99.5% of its assets in government securities, cash, and repurchase agreements. The fund maintains a stable $1 share price. This product is available on Solana through the Benji platform, allowing investors to invest in FOBXX.
Current Market for Tokenized Assets
In the current tokenization boom, products backed by U.S. Treasury securities already exceed $3.6 billion. Among them, Hashnote's Short Duration Yield Note leads with a market cap of $1.1 billion. BlackRock’s BUIDL is second with $636 million, while Franklin Templeton's FOBXX is third with $593 million.
The growth of tokenized assets has surged in recent years, driven by an increased demand for stablecoins and U.S. Treasury securities, alongside growing interest in investment funds.
