Franklin Templeton Tokenizes $380M U.S. Treasury Fund on Polygon and Stellar
According to Cryptoslate, Franklin Templeton tokenized a $380 million US government bond fund on the Polygon and Stellar blockchains to enable peer-to-peer (P2P) transfers without intermediaries.The company launched the Franklin on-chain US government money fund (FOBXX) in the form of BENJI tokens. Each token represents a portion of FOBXX and can be traded on public Polygon and Stellar blockchains. This innovation aims to simplify transactions and expand access, allowing investors to manage their assets more flexibly through direct trading.Franklin Templeton is incorporating blockchain technology into its financial operations to enhance asset management liquidity and efficiency. The company is responding to the growing demand of financial institutions by integrating traditional financial structures with modern technological solutions.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Shiba Inu Advances with Strong Whale Action and Bullish Expectations
Shiba Inu Price Eyes Rally As Shytoshi Kusama Hints At ‘More TREATS’ For SHIB
USDC circulation on Hyperliquid exceeds $2 billion