BCGAME - Free 5BTC Daily Bonus!In a significant development in the financial sector, Franklin Templeton’s OnChain U.S. Government Money Market Fund can now be traded on the cryptocurrency market’s second-largest blockchain, Ethereum (ETH).
Franklin Templeton, a global investment firm, recently expanded trading of its OnChain US Government Money Market Fund (FOBXX) to the Ethereum blockchain.
“The fund invests at least 99,5% of its total assets in U.S. government securities, cash and repurchase agreements collateralized entirely by U.S. government securities or cash,” explained the asset manager.
This year, Franklin Templeton has added a number of new blockchains to support the fund, with the recent additions of Base, Aptos (APT), and Coinbase’s Avalanche (AVAX). Additionally, the fund uses the Stellar network as its primary public blockchain.
The OnChain US Government Money Market Fund launched in 2021, marking an industry first as the first money market fund to utilize a public blockchain to track transactions and ownership.
“The fund seeks to provide as high a level of current income as is consistent with the preservation of shareholders’ capital and liquidity. The fund also attempts to maintain a stable share price of $1.”
FOBXX is currently the third largest tokenized money market fund with a market cap of $410 million.
Chainlink Expands Partnerships with UBS, Vontobel, and Franklin Templeton for Automated Financial Solutions
Chainlink, a leader in decentralized oracle networks, has entered into a collaboration strategic partnership with renowned financial institutions such as Franklin Templeton, UBS, Vontobel and the Swiss bank Sygnum. The goal of this partnership is to transform operational processes in the fintech sector, using blockchain, AI and oracle technologies to simplify and standardize the distribution of critical corporate data, including mergers, dividends and stock splits.
Currently, managing this data presents significant challenges, with manual operations generating high costs due to recurring errors. With the adoption of blockchain and AI, the expectation is to considerably reduce these inefficiencies, enabling substantial savings for companies and enhancing the accuracy and agility of financial data.
