Franklin Templeton has launched its tokenized money market product FOBXX on the Ethereum blockchain. This rollout follows its previous deployments on several other chains. The fund allows customers to invest in U.S. government securities, cash, and repurchase agreements, with the option to hold shares in digital wallets via the Franklin Templeton’s Benji Investments app. While FOBXX is available on various blockchain networks, Ethereum represents the most significant addition, marking the first time Franklin Templeton has deployed on its mainnet. The firm noted that FOBXX is the only U.S.-registered fund that leverages a public blockchain for processing transactions and recording share ownership. This move aligns with recent mainstream acceptance of Ethereum, especially after the SEC enabled exchange-traded funds tracking its price. Franklin Templeton's engagement indicates a growing trend of institutional investment in blockchain technology, offering users a blend of traditional and innovative asset management options.

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