Franklin Templeton’s $300 million tokenized money market fund, the Franklin Onchain U.S. Government Money Fund (FOBXX), is primarily issued on the Stellar public blockchain. In April it expanded to Polygon, and now it says it may also issue tokens on the Avalanche and Aptos blockchains and the Arbitrum sidechain that’s linked to Ethereum.
Alongside fellow asset manager Apollo, Franklin Templeton invested in Aptos Labs. The startup was founded by part of the team from the abandoned Diem stablecoin project initiated by Facebook.
The blockchain diversification of the tokenized fund is working gradually. So far the fund has a balance on Polygon of just $2 million and based on the transaction pattern it’s possible that’s held by Franklin Templeton.
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