Franklin Templeton, one of the world’s largest asset managers, has expanded its tokenized U.S. Government Money Market Fund (FOBXX) to the Aptos blockchain. This fund, valued at $435 million, is already available on multiple blockchains including Avalanche, Arbitrum, Stellar, and Polygon.
The Franklin OnChain U.S. Government Money Fund (FOBXX) is the first U.S.-registered fund to utilize public blockchain technology for processing transactions and recording share ownership. It primarily invests in U.S. government securities, cash, and repurchase agreements fully collateralized by U.S. government assets. Over the past year, the fund has yielded approximately 5.32%.
The recent addition of Aptos, a Layer 1 blockchain known for its scalability and security, marks another step in Franklin Templeton’s embrace of decentralized finance (DeFi). Aptos, launched in 2022, features the Move programming language, which enhances transaction speed and safety, making it an appealing choice for institutional investors.
Franklin Templeton’s decision to include Aptos was driven by the network’s strong scalability, low gas fees, and high-performance virtual machine, as well as its ability to handle high transaction volumes. The fund has already surpassed $20 million in subscriptions on Aptos, highlighting the growing institutional adoption of blockchain technology.
This move aligns with Aptos’ mission to bridge the gap between traditional finance and decentralized platforms. The firm’s partnership with companies like Microsoft, Brevan Howard, and SK Telecom further solidifies its position as a key player in DeFi innovation.
