Franklin Templeton's OnChain U.S. Government Money Fund, built on Stellar, became the first U.S.-registered mutual fund to process transactions and record share ownership on a public blockchain, surpassing $270 million in AUM.
Franklin Templeton announced that its Franklin OnChain U.S. Government Money Fund (FOBXX) has exceeded $270 million in assets under management and is the first U.S.-registered fund to use a public blockchain for transaction processing and share ownership records. The fund utilizes the Stellar blockchain network through a proprietary system and is accessible via the Benji Investments app. Each share is represented by one BENJI token, enabling digital wallet exposure. The Stellar Development Foundation made a multi-million dollar investment in the fund, recognizing it as a demonstration of Stellar's asset tokenization capabilities and potential to reshape traditional financial products with greater transparency and lower operational costs.
