Bringing Assets On-Chain

Asset manager, Franklin Templeton, tokenized a money market fund, bringing it on-chain.
August 12, 2023
Photo by Shubham’s Web3 on Unsplash

In a previous post, I wrote about how real world asset tokenization is taking the world by storm.

As part of my Friday series where I bring these concepts to life, I want to talk about a specific RWA example. For today’s piece, let’s look at how Franklin Templeton brought a money market fund on-chain.

Here’s what I’ve been able to find from publicly available sources:

  • Launched the “Franklin OnChain US Government Money Fund” (FOBXX)
  • Registered the investment product in the United States
  • Launched the Benji Investments app for users to buy and sell tokenized shares — one share is equal to one BENJI token
  • Digital asset wallet is provided by Benji app
  • Tokenized shares are deployed on both Stellar and Polygon
  • As of April 2023, the fund saw $270 million assets under management

This is a fantastic example of bringing real world assets on-chain. It’s hitting on all the promises of RWA: accessibility, liquidity, tradability, etc.

Why does this matter?

A trillion dollar plus asset manager has successfully launched a US-registered investment product, based on a public blockchain. That’s big.

It has sent and continues to send major signals to other players that there is something here and they need to actively be exploring. Arguably, this is one of the those use cases that could a watershed moment in the implementation and adoption of real world assets on-chain.

Overall, a fascinating example and one I’m sure we’ll be seeing more of!


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