Franklin Templeton’s Fund Now Live on Ethereum Mainnet

Franklin Templeton, the Wall Street giant, has launched its fund on Ethereum. This is their first time deploying on the mainnet of the crypto network behind ETH. The fund, On-Chain U.S. Government Money Fund (FOBXX), allows customers to put cash into U.S. government securities, cash, and repurchase agreements.

The fund is available on a number of blockchains, including Avalanche, Stellar, and Apartments, as well as Ethereum scaling networks Decision, Polygon, and Base. Ethereum is a blockchain that allows users to build decentralized apps (dapps). Its native coin, ETH, became available for traditional investors earlier this year when the Securities and Exchange Commission (SEC) approved a number of exchange-traded funds (ETFs) that track the price of the coin.

FOBXX is the first and only U.S.-registered fund to use a public blockchain as the system of record to process transactions and record share ownership.

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