Franklin Templeton Tokenizes US Gov Funds On Polygon And Stellar

Godfrey Benjamin
April 25, 2024 Updated July 18, 2025
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US SEC Delays Decision on Staking in Franklin Templeton Ethereum ETF

Highlights

  • Franklin Templeton has entered the tokenization scene
  • The firm is tokenizing US Government Funds using blockchain
  • The tokenization is through BENJI tokens on Polygon and Stellar

Top investment management firm Franklin Templeton has announced the availability of shares of the Franklin OnChain United States Government Money Fund (FOBXX) on the blockchain.

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Franklin Templeton Ties Shares To BENJI Token

As it announced, peer-to-peer transfers for tokenized shares in the FOBXX fund on the public blockchain have been enabled. Notably, one share of the Fund is equivalent to one BENJI token, an asset registered on both the Polygon and Stellar blockchains. As such, investors can gain access to the Fund via the Benji Investments app on both Google and Apple stores. 

The official record of share ownership through a proprietary integrated system that uses blockchain technology for transaction activity will remain under the purview of the Fund’s transfer agent.

Franklin Templeton has a market share of 32%, per the data compiled by asset management firm 21.co. This places the investment management firm way ahead of the other organizations in the tokenized U.S. Treasuries niche. Furthermore, this outlook is underscored by more than $360 million in Assets Under Management (AUM). 

In the long run, Franklin Templeton is looking to operate the Franklin OnChain U.S. Government Money Fund, in tandem with the rest of the digital asset ecosystem. The firm wants to push its primary investments into government securities and related instruments. Ultimately, the goal is to maintain a stable $1 share price. 

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Franklin Templeton To Compete With BlackRock

It is noteworthy that this Franklin Templeton’s Fund is in close competition with BlackRock’s new BUIDL fund that was tokenized in partnership with Securitize on Ethereum. BlackRock’s BUIDL Fund was the investment giant’s first foray into the tokenization niche. External investors are required to invest a minimum of $100,000 to take part in the Fund. 

Within one month of its launch, BUIDL has gained about 25% of the market although its AUM is $304 million, a little below Franklin Templeton’s. Depending on how much of the market share each of these investment firms are able to capture, the competition between BlackRock and Franklin Templeton may get steeper.

Both investment management firms recently became spot Bitcoin ETF issuers after the U.S. SEC greenlighted the offering. They are also seeking the Commission’s approval for a potential spot Ethereum ETF.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.