Franklin Templeton's OnChain U.S. Government Money Fund surpassed $270 million in assets under management on Stellar, with the Stellar Development Foundation CEO highlighting regulatory clarity as key to mainstream adoption. The fund is now accessible via the Benji Investments app.
Franklin Templeton's OnChain U.S. Government Money Fund (FOBXX) exceeded $270 million in assets under management this week and became available for direct investment on Stellar through the Benji Investments app. The Stellar Development Foundation invested $20 million in the fund, which uses Stellar's blockchain to process transactions and record share ownership. SDF CEO Denelle Dixon emphasized that the fund demonstrates institutional confidence in blockchain-based financial products. Dixon also outlined her focus on US regulatory direction, particularly the CFTC's role in establishing clear rules for digital assets and stablecoins, which she believes are essential for mainstream adoption of blockchain technology.