Franklin Templeton, a leading global investment firm with assets under management totaling $1.6 trillion, has further strengthened its presence in the blockchain space by extending its on-chain money market fund to the Avalanche network. This move marks a significant development in the integration of blockchain technology into traditional financial services, as the firm continues to leverage decentralized systems to enhance the efficiency and accessibility of its offerings.

The Franklin OnChain U.S. Government Money Fund (FOBXX), which was launched in 2021, has made history as the first and only U.S.-registered mutual fund to utilize a public blockchain as its primary system for transaction processing and share ownership recording. This innovative approach has set the fund apart in the industry, attracting a growing number of institutional participants who are increasingly turning to blockchain technology to optimize their operations. The expansion to the Avalanche network is expected to further increase the fund’s appeal, particularly given Avalanche’s reputation for supporting robust and scalable blockchain solutions.

Source : CoinTrust - Aug 23, 2024