Franklin Templeton's $300M tokenized money market fund (FOBXX), primarily issued on Stellar, is expanding to multiple blockchains including Polygon, Avalanche, Aptos, and Arbitrum. The fund has seen limited adoption on Polygon with only $2M in balance so far.
Franklin Templeton's Franklin Onchain U.S. Government Money Fund (FOBXX), a $300 million tokenized money market fund, is diversifying its blockchain presence beyond Stellar. Originally launched on Stellar, the fund expanded to Polygon in April and now plans to issue tokens on Avalanche, Aptos, and Arbitrum. Franklin Templeton and Apollo have invested in Aptos Labs, which was founded by former members of Facebook's Diem stablecoin project. However, blockchain diversification has progressed slowly, with the Polygon deployment holding only $2 million in assets, likely held by Franklin Templeton itself.
