Franklin Templeton has expanded its $410 million OnChain U.S. Government Money Market Fund (FOBXX) to Ethereum’s blockchain, adding another major blockchain to the fund’s portfolio. According to a recent report, the fund, launched in 2021, has already been available on several other blockchains, including Base (BASE), Aptos (APT-USD), and Avalanche (AVAX-USD). Its move to Ethereum marks a significant development as Ethereum is the second-largest blockchain by market cap.
Ethereum Leads Blockchain for Tokenized Assets
Ethereum remains the top choice for tokenized traditional assets, handling $1.6 billion in assets. As noted by rwa.xyz, Ethereum is far ahead of competitors like Stellar (XLM-USD) and Solana (SOL-USD) when it comes to issuing shares of tokenized treasuries. This widespread use of Ethereum solidifies its dominance in the space.
Blockchain’s Role Grows in Asset Tokenization
Franklin Templeton’s decision to integrate with Ethereum is a nod to the blockchain’s growing role in asset tokenization. Grayscale’s April report emphasized that Ethereum’s decentralization makes it a strong contender for global asset tokenization, positioning it to thrive in this evolving market. As the digital finance sector expands, Ethereum’s place seems more solidified than ever.
