It was recently announced that global asset manager Franklin Templeton unveiled the Franklin OnChain US Government Money Fund, FOBXX, on the Aptos blockchain. It is the first US-registered fund to use a public blockchain to realize transaction processing and share ownership.
What is the Franklin OnChain US Government Money Fund?
The Franklin OnChain US Government Money Fund, or FOBXX in short form, represents something rather new and unique in the financial world. For the first time, institutional investors can use blockchain technology to handle their money market funds in a totally different way than traditional means of processing transactions and recording ownership.
Why Aptos Blockchain?
It chose Aptos for its security, scalability, and compliance with Franklin Templeton’s strict standards. Aptos has blockchain infrastructure that makes sure that transactions are processed with safety and efficiency for the institutional investor.
How Investors Benefit
The investors, through the Benji Investments platform, can invest in the fund by using digital wallets. They will also be able to self-custody their wallets on the Aptos network for flexibility and security with full control of their assets.
How Blockchain Factors
Since 2018, Franklin Templeton has been in the frontline to apply blockchain-related innovations with a view to improve fund management. Just very recently, an example includes a US Government Money Fund, which uses Stellar, Polygon, and Arbitrum blockchains for its transparency and efficiency. Besides a wide scope of investment offerings that range from cryptocurrency-focused funds up to tokenized government securities.
