- Franklin Templeton extends Fobxx to Solana, improving his presence as a blockchain.
- Institutional investment in Solana Surges, consolidating its role in decentralized finance and tokenization.
Franklin Templeton has expanded his token monetary market fund, Franklin Onchain Us Government Money Fund (FOBXX), at the Solana blockchain (ground), further reinforcing his presence in the space of digital assets.
Franklin Templeton launches FOBXX
With 1.6 billion of dollars of assets under management, the company announced this decision on February 12, based on the multi-chain strategy of FOBXX.
Originally launched in 2021, the fund has already integrated in Ethereum (ETH), Coinbase base, Aptos (Apt) and Avalanche (Avx), while Stellar (XLM) remains its main blockchain.
Thus, as the third monetary market fund in Tokenized, FOBXX approaches a total value of assets of $ 600 million, highlighting its growing adoption.
In addition, it is also possible to be the first common investment fund in the world to take advantage of Blockchain technology for the processing of transactions and the registration of the ownership of actions, each action represented by a Benji token.
Noticed on the same, Franklin Templeton went to X (formerly Twitter) and said,
“New channel unlocked. Benji is now live on Solana! Solana is a fast, secure and resistant censorship that encouraging global adoption via its open infrastructure. »»
The growing traction of Solana
Needless to say, the institutional interest in the Solana network has increased, reporting a change beyond its reputation as a center for mecoins.
In the third quarter of 2024, investments in decentralized soil applications increased by 54%, reaching 173 million dollars, reflecting growing confidence among wealth managers and hedge funds.
The token itself organized a remarkable recovery from the bottom of the bear market of less than $ 10 after the collapse of FTX.
He recently reached a maximum of 52 weeks of $ 265.10, partly fueled by the excitement surrounding the launch of the same American president Donald Trump on the network.
In addition, Solana has become the dominant platform to launch new tokens, especially in decentralized trade.
A Pantera Capital report has revealed that Sol now represents more than 90% of the new tokens listed on decentralized scholarships – an extraordinary leap of only 1% at the end of 2023.
Echoing similar feelings, Cosmo Jiang and Eric Wallach in the same report noted,
“Even when innovation does not start on Solana, it ends up finding it.”
Blackrock Buidl against Fobxx by Franklin Templeton
However, while the company is strengthening its foot, it faces an increasing competition from Blackrock’s Buidl Fund, which increased after the Benji token in Franklin in market capitalization, reaching $ 637 million.
With tokenized cash products now totaling $ 3.6 billion, the domination race in this emerging sector is intensifying.
Beyond his monetary market fund, Franklin Templeton has actively expanded his crypto offers, launching Bitcoin (BTC) and Ethereum (ETH) Ethers while looking for the approval of the dry for an ETF of the index of Crypto.
His latest decision – a Delaware -based trust linked to an ETF Solana – Forther highlights his strategic thrust in investment products based on blockchain.
Therefore, aThe institutions are adopting tokenized assets, Franklin Templeton’s innovation could help shape the future of digital finance.
