Avalanche Welcomes Franklin Templeton’s Tokenized Money Fund

FOBXX Goes Live on Avalanche, Expanding Access to Tokenized Money Fund

The Nasdaq-listed OnChain U.S. Government Money Fund (FOBXX), managed by renowned asset manager Franklin Templeton, is now accessible on Avalanche. Institutional investors can make contributions to the fund via digital wallets on the Benji Investments platform, the Wall Street behemoth announced on Thursday. Additionally, they are eligible to maintain their wallets on the Avalanche network, but only upon request.

Bringing the Benji platform to the Avalanche network further expands access to our first-of-its-kind tokenized money market fund,

Franklin Templeton’s head of digital assets Roger Bayston

FOBXX Now Available on Avalanche: How Franklin Templeton is Bridging Traditional Finance with Crypto?

The interoperability of FOBXX on the Arbitrum network—a scaling solution for Ethereum—was just announced by Franklin Templeton last week. The behemoth of traditional finance is now entering the cryptocurrency space with this latest move.

• Customers can invest their money in cash, repurchase agreements, and U.S. government securities with FOBXX, a digital fund.
• Investors can purchase FOBXX shares through the Franklin Templeton Benji Investments mobile app, storing them in digital wallets.

Among the numerous well-known Wall Street titans that introduced an Ethereum ETF and a spot Bitcoin ETF this year is Franklin Templeton. They’ve both been incredibly successful.

For more up-to-date crypto news, you can follow Crypto Data Space.