Coinspeaker
Franklin Templeton Launches $380M Government Fund, Tokenizes It on Polygon, Stellar

Leading investment firm Franklin Templeton has announced a $380 million  United States Government Money Fund (FOBXX), tokenized as BENJI tokens. According to the firm, these tokens represent shares of the fund and can now be traded on both the Polygon and Stellar blockchains. The innovative move does not only promise to simplify transactions and enhance liquidity. It also aims to democratize access to asset management. That is by giving investors more flexibility to manage their assets through direct exchanges.

The BENJI Token

For Franklin Templeton, the BENJI token is primarily aimed at enabling peer-to-peer (P2P) transfers without intermediaries. However, on a broader note, it is more than just a digital representation of a share. It portrays the dynamic shift that is currently taking place in how investors interact with traditional financial structures.

For what it’s worth, the tokenization of government securities and other assets has recently become a trend. That i,  as financial institutions race to blend traditional financial structures with modern-day technological solutions.

So, Franklin Templeton may just be responding to this growing demand, hence its latest innovation.

With BENJI tokens, investor...