Franklin Templeton has officially launched its Franklin OnChain US Government Money Fund (FOBXX) on the Aptos blockchain. This launch highlights the increasing interest from institutional investors in merging traditional finance (TradFi) with decentralized finance (DeFi).
The launch of the on-chain US Government Money Fund FOBXX, represented by the BENJI token, allows institutional investors to access this asset directly from their digital wallets via Franklin Templeton’s blockchain-integrated Benji Investments platform.
Upon its debut, the FOBXX token garnered impressive support, exceeding $20 million in subscriptions. This enthusiasm stems from its investment strategy focused on low-risk US government securities, which include fixed, floating, and variable rates. Additionally, it engages in repurchase agreements fully collateralized by US government securities or cash.
It is important to note that Franklin Templeton’s FOBXX on Aptos is exclusively available to eligible investors who can hold their wallets on the Aptos network, subject to specific requests.
