Franklin Templeton Rolls Out its Money Fund on Arbitrum Blockchain

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Franklin Templeton has today announced the launch of its tokenized money fund on the Arbitrum network, as part of its efforts to bridge the gap between traditional and decentralized finance.

The Franklin OnChain US Government Money Fund (FOBXX) was created in 2021 and can now be accessed through the Benji Investments platform.

Users can now also acquire and hold the fund’s tokenized shares on other networks like Stellar and Polygon. Money funds employ low-risk strategies by investing in highly liquid assets such as short-term Treasury bills and commercial paper.

The current net assets of Franklin Templeton’s FOBXX stand at around $420 million and it has been generating annualized returns of approximately 5.25% as of June 2024.