Franklin Templeton tokenized $380 million U.S. Treasury funds on Polygon and Stellar

PANews reported on April 26th that, according to Cryptoslate, Franklin Templeton has tokenized $380 million of U.S. Treasury funds on the Polygon and Stellar blockchains for peer-to-peer (P2P) transfers without intermediaries.

The company launched the Franklin Blockchain-based U.S. Government Money Fund (FOBXX), issuing shares in the form of BENJI tokens. Each token represents a portion of FOBXX and can be traded on public Polygon and Stellar blockchains. This innovation aims to simplify transactions and expand access, allowing investors to manage their assets more flexibly through direct trading.

Franklin Templeton is integrating blockchain technology into its financial operations with the aim of enhancing liquidity and efficiency in asset management. The company is responding to the growing demand from financial institutions by merging traditional financial structures with modern technological solutions.