Franklin Templeton announced on February 12 that his tokenized Money Fund, “Franklin Onchain Us Government Money Fund” (FOBXX), was deployed on Solana – The fund is now available on eight different blockchains.
According to Franklin Templeton’s website, FOBXX invests 99.5% of its total assets in American government securities, cash agreements and buy -back agreements entirely guaranteed by US government securities or species. It offers an annual return of 4.55% (APY).
A tokenized monetary fund is a real world fund whose actions are issued digitally on a blockchain, which gives it a secondary market without stopping time.
FOBXX’s market capitalization was nearly $ 594 million on February 11, making it the third monetary fund with Tokenized shares. The fund has 544 holders, an increase of 2.5% in the last 30 days.
The smallest quantity of FOBXX is available on Aptos, totaling $ 21.4 million. Consequently, the Fobxx integration on Solana could give the ecosystem of the monetary fund of the network tokenized an essential boost.
As of February 11, nearly $ 136 million in Tokenized shares had been issued on Solana, or less than 4% of the market capitalization in the sector.
More than $ 3.5 billion
The tokenized monetary fund sector experienced significant growth of 415% in 2024, ending the year with a market capitalization of almost $ 4 billion. The top of all time in industry was almost $ 4.2 billion, recorded on January 7.
As of February 11, the market capitalization of the Tokenized Monetary Fund was $ 3.6 billion, about 15% compared to its peak. However, it was even more than four times larger than the market capitalization recorded on the same date last year.
Ethereum dominates the market, welcoming more than $ 2.4 billion in tokenized shares. The second largest network is stellar, with nearly $ 380 million in digital fund sharing versions. This is mainly due to the $ 372 million in FOBXX issued in the network.
In addition to Ethereum and Stellar, none of the 13 other blockchains followed by Rwa.xyz has reached the threshold of $ 150 million in token monetary fund shares.
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