Today Franklin Templeton announced its tokenized money market fund, FOBXX, is now available on the Avalanche blockchain. The asset manager first launched the fund on the Stellar blockchain more than three years ago with assets under management currently $402 million. Subsequently it expanded support to Polygon and Arbitrum, with plans to launch on the Aptos blockchain.
“Bringing the Benji platform to the Avalanche network further expands access to our first-of-its-kind tokenized money market fund,” said Roger Bayston, Head of Digital Assets at Franklin Templeton. “We look forward to working with Avalanche’s vibrant developer community to bring new blockchain-enabled innovations into the market.”
Two years ago, Securitize used the Avalanche blockchain to tokenize access to a KKR Health Care fund. The ability to create private permissioned chains as subnets has attracted institutional experiments, including three sets of trials involving the likes of Citi, JP Morgan Private Bank, Apollo, WisdomTree, T.Rowe Price, Wellington Management and Cumberland.
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