Franklin Templeton Launches OnChain US Government Money Fund on Solana
In X post, Franklin Templeton Announce Its Franklin Onchain U.S. Government Money Fund (FOBXX) now resides on the Solana network. Asset Manager highlights Solana’s speed, security and censorship that facilitates global adoption through its open infrastructure.
Funds available on multiple networks
This move reflects the growing interest of major financial companies in crypto-based products, thus enhancing Solana’s position as a key digital asset.
FOBXX aims to maintain a stable $1 share price, such as Stablecoin, the fund is already available on the Ethereum, Basics, Polygon, Avalanche, Aptos and Intivum networks. Its first blockchain integration was Stellar about four years ago. It is worth noting that the fund invests at least 99.5% of its total assets in U.S. securities, cash and repurchase agreements in U.S. government securities or cash-encapsulated U.S. securities, cash and repurchase agreements.
SOL ETF is fast?
The next day after Franklin Templeton, launching money fund on Solana Filed Offered in Delaware for Solana ETF. The move may indicate that asset managers may soon submit a Solana ETF to the U.S. SEC. Last year, asset managers praised Solana, predicting that SOL will become the third largest cryptocurrency after Bitcoin and Ethereum, and is also the best choice for future crypto users.
In addition, recently CNBC In the interview, Anthony Scaramucci said he was investing money in Solana. He noted that while his company owns some Ethereum, he has a better view of Solana due to its low income and fast transaction speed. He believes Solana will lead to tokenization, especially if traditional financial assets of stocks and bonds, such as stocks and bonds, are tokenized. In this case, Solana would be the obvious choice, he added.
Tokenization is a fast-growing sector of cryptocurrencies. Additionally, Blackrock CEO Larry Fink has long supported the Tokenisation drum. He said in 2022 that symbolization is the future of the market, and BlackRock has launched a marked fund to test the waters.
