Franklin Templeton launches tokenized fund on Aptos

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Franklin Templeton is bringing its tokenized fund, the Franklin OnChain US Government Money Fund (FOBXX) to the Aptos network, the leading asset manager said in a recent statement.

Institutional investors can now access the fund through the Benji Investments platform, with the option to hold their digital wallets on Aptos.

Explaining the launch of FOBXX on Aptos, Roger Bayston, Head of Digital Assets at Franklin Templeton, highlighted the unique features of Aptos that meet their high standards for the Benji platform.

“Today’s announcement is an important milestone in our ongoing journey to unlock new asset management capabilities with blockchain technology,” said Bayston.

The integration is part of Franklin Templeton’s broader strategy to integrate blockchain technology into asset management. The firm aims to improve the interoperability of traditional and treasury-backed assets across different blockchain environments.

The move also expands the list of FOBXX accessible blockchain networks to five, including Avalanche, Arbitrum, Stellar, Polygon and Aptos.

FOBXX, symbol BENJI, is the first US-registered fund to use a public blockchain to process transactions and record share ownership. It is currently the second largest tokenized US Treasury fund after BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), according to data tracked by 21.co.

According to Bashar Lazaar, Head of Grants and Ecosystem at the Aptos Foundation, integration plays an important role in connecting the “TradFi and DeFi worlds” as well as “EVM and non-EVM networks”.

“The integration of the Benji Investments platform with the Aptos Network is a massive step in the right direction and we look forward to welcoming them to the Aptos ecosystem,” said Lazaar.

“We are proud that traditional financial firms are choosing to grow on the Aptos Network and bring the benefits of decentralization to their customers,” said Mo Shaikh, co-founder and CEO of Aptos Labs.

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