Franklin Templeton Expands Its OnChain U.S. Government Money Fund On Polygon
Key Points:
- Franklin Templeton’s OnChain U.S. Government Money Fund is the first US-registered mutual fund to use a public blockchain system for processing transactions and recording share ownership.
- Investors can now access the Fund through an Ethereum-based blockchain that is supported by Polygon, providing access to a Layer 2 blockchain that has demonstrated its reliability.
Franklin Templeton has announced that its Franklin OnChain U.S. Government Money Fund (FOBXX) is now supported on the Polygon blockchain.
As a result, the Fund has become the first US-registered mutual fund to use a public blockchain system for processing transactions and recording share ownership. A blockchain-integrated system is expected to enhance security, speed up transaction processing, and reduce costs, benefiting shareholders.
Investors can now access the Fund through an Ethereum-based blockchain supported by Polygon. This provides access to the Fund through a Layer 2 blockchain that has demonstrated its reliability.
Extending the reach of the Franklin OnChain U.S. Government Money Fund to Polygon enables the Fund to be further compatible with the rest of the digital ecosystem, specifically through an Ethereum-based blockchain. This furthers our distribution reach through a Layer 2 (L2) blockchain that has a proven track record.
said Roger Bayston, head of digital assets at Franklin Templeton, in the press release
The Franklin OnChain U.S. Government Money Fund is a regulated fund that invests at least 99.5% of its assets in government securities, cash, and repurchase agreements fully collateralized by government securities or currency. Token holders can gain exposure to the Fund using one BENJI token on the Benji Investments app for mobile devices.
Franklin Templeton’s move to blockchain integration has resulted in operational efficiencies, and the company continues exploring blockchain technology’s potential. By leveraging the Ethereum ecosystem, investors can enjoy a stable $1.00 share price and high current income levels consistent with preserving shareholders’ capital and liquidity.
Polygon’s blockchain ecosystem spans many L2, sidechains, and sovereign blockchains, and its suite of Ethereum scalability solutions has seen significant adoption across DeFi, NFTs, and enterprises. The Polygon blockchain provides access to a $260 billion market, representing the approximate aggregate value of all ERC-20 (Ethereum-based) assets. Tokenized assets are set to disrupt the global financial system positively, and Franklin Templeton is at the forefront of this movement.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
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Franklin Templeton Expands Its OnChain U.S. Government Money Fund On Polygon
Key Points:
- Franklin Templeton’s OnChain U.S. Government Money Fund is the first US-registered mutual fund to use a public blockchain system for processing transactions and recording share ownership.
- Investors can now access the Fund through an Ethereum-based blockchain that is supported by Polygon, providing access to a Layer 2 blockchain that has demonstrated its reliability.
Franklin Templeton has announced that its Franklin OnChain U.S. Government Money Fund (FOBXX) is now supported on the Polygon blockchain.
As a result, the Fund has become the first US-registered mutual fund to use a public blockchain system for processing transactions and recording share ownership. A blockchain-integrated system is expected to enhance security, speed up transaction processing, and reduce costs, benefiting shareholders.
Investors can now access the Fund through an Ethereum-based blockchain supported by Polygon. This provides access to the Fund through a Layer 2 blockchain that has demonstrated its reliability.
Extending the reach of the Franklin OnChain U.S. Government Money Fund to Polygon enables the Fund to be further compatible with the rest of the digital ecosystem, specifically through an Ethereum-based blockchain. This furthers our distribution reach through a Layer 2 (L2) blockchain that has a proven track record.
said Roger Bayston, head of digital assets at Franklin Templeton, in the press release
The Franklin OnChain U.S. Government Money Fund is a regulated fund that invests at least 99.5% of its assets in government securities, cash, and repurchase agreements fully collateralized by government securities or currency. Token holders can gain exposure to the Fund using one BENJI token on the Benji Investments app for mobile devices.
Franklin Templeton’s move to blockchain integration has resulted in operational efficiencies, and the company continues exploring blockchain technology’s potential. By leveraging the Ethereum ecosystem, investors can enjoy a stable $1.00 share price and high current income levels consistent with preserving shareholders’ capital and liquidity.
Polygon’s blockchain ecosystem spans many L2, sidechains, and sovereign blockchains, and its suite of Ethereum scalability solutions has seen significant adoption across DeFi, NFTs, and enterprises. The Polygon blockchain provides access to a $260 billion market, representing the approximate aggregate value of all ERC-20 (Ethereum-based) assets. Tokenized assets are set to disrupt the global financial system positively, and Franklin Templeton is at the forefront of this movement.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Thana
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