Franklin Templeton tokenizes $380 million U.S. Treasury bond fund on Polygon and Stellar

ChainCatcher news, according to Cryptoslate, Franklin Templeton has tokenized $380 million of U.S. Treasury funds on the Polygon and Stellar blockchains to enable peer-to-peer (P2P) transfers without intermediaries.

The company launched the Franklin On-Chain U.S. Government Money Fund (FOBXX), issuing shares in the form of BENJI tokens. Each token represents a portion of FOBXX and can be traded on the public Polygon and Stellar blockchains. This innovation aims to simplify transactions and broaden access, allowing investors to manage their assets more flexibly through direct trading.

Franklin Templeton is integrating blockchain technology into its financial operations to enhance the liquidity and efficiency of asset management. The company is responding to the growing demand from financial institutions to merge traditional financial structures with modern technological solutions.