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Franklin Templeton Expands $FOBXX OnChain Money Fund to Aptos with $20M+ Subscriptions

Oct 2, 2024, 01:00 PM

Franklin Templeton, a global asset management firm, has expanded its OnChain U.S. Government Money Fund ($FOBXX) to the Aptos blockchain. This fund, which previously launched on Avalanche, has reached an asset management scale of $420 million. The expansion to Aptos has already garnered over $20 million in subscriptions. The move is part of a broader trend of financial institutions leveraging blockchain technology to offer tokenized financial products, providing benefits such as low fees, deep liquidity, and fast transactions on a non-EVM blockchain.