Franklin Templeton tokenizes $380 million U.S. Treasury fund on Polygon and other networks

BlockBeats news, on April 26, Cryptoslate reported that Franklin Templeton tokenized a $380 million U.S. Treasury bond fund on the Polygon and Stellar blockchains to enable peer-to-peer (P2P) transfers without intermediaries. The company launched the Franklin U.S. Government Currency Fund (FOBXX) on the chain, issuing shares in the form of BENJI tokens. Each token represents a portion of FOBXX and can be traded on the public Polygon and Stellar blockchains. This innovation aims to simplify transactions and expand access, allowing investors to manage their assets more flexibly through direct transactions. Franklin Templeton incorporates blockchain technology into its financial operations, aiming to enhance the liquidity and efficiency of asset management. The company is responding to the growing demand of financial institutions to merge traditional financial structures with modern technology solutions.