Hassan Maishera
On Thursday, the Avalanche Foundation announced via a blog post that Franklin Templeton has launched its tokenized money market fund on the Avalanche blockchain. The Franklin Templeton OnChain U.S. Government Money Fund (FOBXX) is the first and only U.S.-registered mutual fund to leverage a public blockchain as the system of record to process transactions and record share ownership.
One share of the $402 million Fund is represented by one BENJI token – holders can gain exposure to the Fund through the Benji Investments app. Individual investors can gain exposure to FOBXX through the Benji Investments app, available in mobile app stores for Android and Apple devices. Institutional investors can gain exposure through the Benji Institutional web portal, Franklin Templeton’s proprietary blockchain-integrated recordkeeping system.
Avalanche is an open-source platform for launching Decentralized Finance (DeFi) applications and enterprise blockchain deployments in an interoperable, highly scalable ecosystem.AVAX is up 10% today and currently trades at $25.66 per coin.
