NEW: Franklin Templeton Moves US Gov Funds to Polygon and Stellar Blockchain

Franklin Templeton, a major asset manager, has launched peer-to-peer token transfers for its $380 million tokenized money market fund, positioning itself as a pioneer in the integration of digital assets into traditional finance. This development allows investors in the Franklin OnChain U.S. Government Money Fund (FOBXX) to directly exchange BENJI tokens, which represent shares in a fund comprising government securities, cash, and repurchase agreements. The BENJI tokens, operating on the Stellar (XLM) and Polygon (MATIC) blockchains, facilitate a transparent, accessible, and steady yield for token holders.

Jason Chlipala, Chief Business Officer of Stellar Development Foundation, emphasized the significance of this move, stating, “Allowing fund shares to be transferred peer-to-peer puts Franklin Templeton on the cutting edge of the financial sector where tokenized real-world assets are an industry staple and more open, transparent, and accessible.” This step not only enhances the functionality of digital assets but also marks a significant milestone in making financial systems more interconnected and efficient.


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