Franklin Templeton – The First Tokenized Asset Manager at its Base

became Franklin Templeton First tokenized money fund on Coinbase’s Layer-2 (L2) blockchain late last night (on October 31st).

Blockchain-backed record keeping system Benji is now live on Base and supports $FBOXX.

$FBOXX is already worth $408 million. by joining largest L2 network With Total Value Locked (TVL), Templeton aims to further increase the appeal of the government money market fund.

Franklin Templeton RWA Ranks Bronze in the Treasury Market

$FBOXX is the world’s first money market fund exploring blockchain technology to record transactions and ownership.

Since its inception in 2021, the fund has invested primarily in U.S. government bonds with minimal credit risk. After all, it aims to providing capital security and easy access to treasury bills while protecting $1 share price.

This third largest treasury product inside $2.40 Billion RWA marketIt came in hot on the heels of BlackRock USD Institutional Digital Liquidity Fund ($BUIDL) and Ondo US Dollar Yield ($USDY).

$FBOXX’s Multi-Chain Approach for Stronger Demand

Beyond the Base, $FBOXX is also available on five other blockchain networks: Stellar, Arbitrum, Aptos, Avalanche and Polygon.

Stellar is the fund’s primary network. This second largest blockchain network in the treasury market With a market capitalization of $391 million. Ethereum’s mainnet (valued at $1.67 billion) is leading the charge.

Yet Franklin Templeton benefits Ethereum’s top rated L2 scaling solutions productively. Base is at the top with a TVL of $2.45 billion, followed by Arbitrum ($2.36 billion) and Polygon ($1.17 billion).

Fund Joined Polygon on April 26, 2023with Leveraging Ethereum based (ERC-20) assetsAt the time, it was worth $260 billion.

further increase its attractiveness and decentralization Layer-1 (L1) blockchains are its partnership with Aptos and Avalanche.

Aptos’ active addresses increased by 1,138.95% since last year ( 53.61K – 664.2K), signaling a good time for $FBOXX.

Templeton Raises the Bar on Tokenized Treasures

$FBOXX sets A new benchmark in digital asset management As the first tokenized money fund to join Base.

Expanding accessibility across various blockchain networksFranklin Templeton is pushing the boundaries regarding costs, security, and the nature of making financial transactions in the tokenized treasury market.

Like Blockchain technology continues to gain traction at TradFi$FBOXX’s multi-chain approach and fragmented RWAs may encourage other financial companies to follow suit; especially the RWA market It is expected to reach 600 billion dollars in 2030.

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