Franklin Templeton expanded its tokenized money market fund FOBXX to Avalanche blockchain, three years after launching on Stellar. The fund now operates across multiple chains with $402 million in assets under management.
Franklin Templeton announced that its tokenized money market fund FOBXX is now available on the Avalanche blockchain through its Benji platform. The fund originally launched on Stellar over three years ago and has since expanded to Polygon and Arbitrum, with planned launches on Aptos. Currently managing $402 million in assets, the expansion reflects growing institutional adoption of tokenized financial products across multiple blockchain networks. Avalanche's subnet capabilities have attracted other major financial institutions including Citi, JP Morgan, and T. Rowe Price for similar tokenization experiments.